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Deildaskipting. wO  L  HeimilteraWverWbrfasj;WursstarfrkturaWgreindumdeildum.Hversj;Wsdeildskal B  hafaaWgreindanfjrhaginnanrekstrarflags.BerYhverdeildbyrgWsnumskuld    bindingum.X;beradeildirsj;Wsins;skiptabyrgWsameiginlegumkostnaWiYeirra.     14.gr. nF Sj;Wsmyndun. 9 N  EignirmyndastverWbrfasj;WimeWsamningirekstrarflagsviWviWskiptavinsemfelur  YvaWvaxtafjrmunisnatilteknumverWbrfasj;Wiinnansinnavbanda.Sj;Wurinn  myndastmeWafhendingupeningaviWskiptavinargegnhlutdeildarskrteinumogsaman r stendursWanafYeimeignumsemverWatilviWrWstfunYessarapeningatilsameiginlegrar e= fjrfestingar. 0   15.gr.  AWskilnaWurrekstursogvrsluog;hWi. i JQ  Rekstrarflagmekkijafnframtveravrslufyrirtki.Stj;rnarmaWurrekstrarflagim \4 ekkiverastj;rnvrslufyrirtkis. '   Rekstrarflgogvrslufyrirtkiskuluvera;hWstrfumsnumogtWhafahagsmuni  eigendahlutdeildarskrteinaaWleiWarlj;si.    16.gr. S+! MlshfWunarrttur. " VS  RekstrarflaggeturhfWaWmleiginnafnifyrirhndeinstakraeigendahlutdeildar # skrteinatil;gildingarskrteinum.  $   17.gr. J""& ReksturverWbrfasj;Wa. #' {T  ReksturverWbrfasj;WafelstmeWalannarseftirfarandiverkefnum: #( ! ! =(uh88 ;"i0J"  i0JV2uh  1  .3  Ԉ0    FjrfestingumsamrmiviWfjrfestingarstefnu.i0JV-V݌$ ) Ќ  "i0J"  i0JW2uh  2  .3  Ԉ0    UmsUslu.i0JW  Stj;rnhlutabrfasj;WsskalskipuWeigifrrienYremurmnnum.Umstj;rnfjr $ ) festingarsj;WsogYagnarskylduferskv.VII.kaflalagaumfjrmlafyrirtki,eftirYvsem v%N!* viW. A&"+   UmeignarhlutiogmeWferWYeirraferskv.VI.kaflalagaumfjrmlafyrirtki.  '",   Framkvmdastj;rihlutabrfasj;WsskalhafalokiWpr;fiverWbrfaviWskiptumsamrmi '#- viWVII.kaflalagaum_ _ fjrmlafyrirtki_ . (z$.   &  UmrsreikningaogendurskoWun_ hlutabrfasj;Wa_ Ԁferskv._ XI_ .kaflalagaum_ fjrmla ( fyrirtki_ .'(T    64.gr. a Tilvsanirlgum_ hlutaflg_ . T, d  Lgum_ hlutaflg_ Ԁgildaum_ hlutabrfasj;Wi_ ,sbr.Y;62.gr.X;skuluallirhlutirtWhafa  jafnanrttsj;Wnum.    65.gr.  X _ Fjrfestingarheimildir_ Ԁogtilkynningumhttu. K #    Um_ fjrfestingarheimildir_ Ԁ_ hlutabrfasj;Wa_ Ԁferskv.54.gr.ogumtilkynninguumhttu    skv.55.gr.      _ IV_ .KAFLI wO   EftirlitogreglugerW.  B  66.gr.    Eftirlit.   z  _ FjrmlaeftirlitiW_ ԀhefureftirlitmeWaWstarfsemi_ verWbrfasj;Wa_ ,_ fjrfestingarsj;Wa_ , {  _ rekstrarflaga_ Ԁog_ vrslufyrirtkja_ ԀssamrmiviWlgYessiogreglugerWirsettarsamkvmt nF Yeim.Skal_ FjrmlaeftirlitiW_ ԀeigaaWgangaWllumggnumogupplUsingumhjYeimaWilum 9 semlgintakatilogYaWtelurnauWsynlegvegna_ eftirlitsins_ .UmeftirlitiWgilda,eftirYvsem  viWgeturtt,lgumopinberteftirlitmeWfjrmlastarfsemi.    Telji_ FjrmlaeftirlitiW_ ԀaWstarfsemiaWilaskv.1.mgr.brj;tigegnkvWumlagaYessara, r reglugerWaogreglnasettrasamkvmtYeim,eWasaWWruleyti;eWlileg,_ ;heilbrigW_ ԀeWa e= ;traustgeturYaWveittviWkomandihfileganfresttilrb;tanemabrotsualvarleg. 0   Telji_ FjrmlaeftirlitiW_ ԀaWstarfsemisamkvmtlgumYessumsstunduWn_ tilskilinna_   leyfageturYaWkrafistgagnaogupplUsingahjviWkomandiaWilumeWahj_ eftirlitsskyldum_   aWilumsemnauWsynlegerutilaWgangarskuggaumhvortsvos.GeturYaWkrafistYess i aWslkristarfsemishttYegarstaW.JafnframterYvheimiltaWbirtaopinberleganfn \4 aWilasemtaldirerubj;WaYj;nustun_ tilskilinna_ Ԁleyfa. '   67.gr. @v   ReglugerW. `  B  LgYessiheyraundirviWskiptarWherraogskalhannkveWannarumframkvmdYeirra S+! meWreglugerW.0reglugerWermeWalannarsheimiltaWkveWaum_ fjrfestingarheimildir_  " _ verWbrfasj;Wa_ Ԁog_ fjrfestingarsj;Wa_ ,g;Wa_ viWskiptahtti_ ,_ tvistun_ Ԁverkefna_ rekstrarflaga_ , # _ innlausnarvirWi_ ,markaWssetninguutanheimalands,heimildirtilmarkaWssetningarannarra  $ sj;Waen_ verWbrfasj;Wa_ Ԁutanheimalandsog_ upplUsingagjf_ Ԁ_ verWbrfasj;Wa_ Ԁog_ fjrfestingar !W% sj;Wa_ .0reglugerWinniereinnigheimiltaWkveWaumnotkun_ afleiWusamninga_ Ԁ_ verW J""& brfasj;Wa_ Ԁog_ fjrfestingarsj;Wa_ ԀogaWferWirtilaWmetahrifYeirrahttu_ eignasafns_  #' _ sj;Wanna_ . #(   v%N!*   V.KAFLI (  ViWurlg.   68.gr.  Sektir. a ~  XaWvarWarsektumliggiYyngrirefsingekkiviWbrotisamkvmtWrumlgumaWbrj;ta T, gegnkvWumlagaYessaraum:  ! ! ;(eh88;"i0J"  i0J2eh  1  .3  Ԉ0    &  einkartt_ verWbrfasj;Wa_ ԀtilaWnotatilnnariskUringarstarfsemisinniorWiW  _ verWbrfasj;Wur_ 'Ԁ(11.gr.),i0J݌  Ќ  "i0J"  i0J\2eh  2  .3  Ԉ0    _ tvistun_ Ԁverkefna_ rekstrarflags_ Ԁ_ verWbrfasj;Ws_ Ԁ(1.mgr.18.gr.),i0J\݌ X Ќ  "i0J"  i0J2eh  3  .3  Ԉ0    markaWssetninguslenskra_ verWbrfasj;Wa_ Ԁutan0slands(45.gr.),i0J݌K #  Ќ  "i0J"  i0J.2eh  4  .3  Ԉ0    _ upplUsingagjf_ Ԁ_ verWbrfasj;Wa_ Ԁ(II.kafliH),i0J.[݌   Ќ  "i0J"  i0J2eh  5  .3  Ԉ0    einkartt_ fjrfestingarsj;Wa_ ԀtilaWnotatilnnariskUringarstarfsemisinniorWiW    _ fjrfestingarsj;Wur_ Ԁ(2.mgr.52.gr.og3.mgr.62.gr.),i0J݌  Ќ  "i0J"  i0JY2eh  6  .3  Ԉ0    _ tvistun_ Ԁverkefna_ rekstrarflags_ Ԁ_ fjrfestingarsj;Ws_ Ԁ(1.mgr.52.gr.,sbr.1.mgr.18.gr.),i0JY݌wO  Ќ  "i0J"  i0J2eh  7  .3  Ԉ0    _ upplUsingagjf_ Ԁ_ fjrfestingarsj;Wa_ Ԁ(1.mgr.52.gr.,sbr.II.kaflaH,og5.mgr.62.gr.),i0J$݌B  Ќ  "i0J"  i0Jv2eh  8  .3  Ԉ0    tilkynninguumhttu(55.gr.og65.gr.)ogi0Jv݌   Ќ  "i0J"  i0J2eh  9  .3  Ԉ0    virka_ eignarhluta_ Ԁ(2.mgr.63.gr.,sbr.1.mgr.40.gr.,47.gr.og1.mgr.48.gr.lagaum   _ fjrmlafyrirtki_ ).i0J݌{  Ќ    69.gr. 9 SektireWafangelsi.     XaWvarWarsektumeWafangelsialltaWeinuriliggiYyngrirefsingekkiviWbrotisam  kvmtWrumlgumaWbrj;tagegnkvWumlagaYessaraum: r ! ! =(uh88 ;"i0J"  i0J2uh  1  .3  Ԉ0    aW_ leyfisskyld_ ԀstarfsemiskuliekkistunduWnstaWfestingareWa_ starfsleyfis_ Ԁ(3.mgr.1. e= gr.),i0JD݌0 Ќ  "i0J"  i0J2uh  2  .3  Ԉ0    breytingu_ verWbrfasj;Wum_ Ԁsj;Wisemlgintakaekkitil(2.mgr.5.gr.),i0J߼݌ Ќ  "i0J"  i0J 2uh  3  .3  Ԉ0    _ ;hWi_ Ԁ_ rekstrarflaga_ Ԁog_ vrslufyrirtkja_ Ԁ_ verWbrfasj;Wa_ Ԁstrfumsnumogskyldu  YeirratilaWhafahagsmunieigenda_ hlutdeildarskrteina_ ԀaWleiWarlj;si(2.mgr.15.gr.),i0J 7݌i Ќ  "i0J"  i0Jd2uh  4  .3  Ԉ0    starfsemi_ vrslufyrirtkis_ Ԁ_ verWbrfasj;Wa_ Ԁ(20.gr.),i0Jd݌\4 Ќ  "i0J"  i0J2uh  5  .3  Ԉ0    _ fjrfestingarheimildir_ Ԁ_ verWbrfasj;Wa_ Ԁ(II.kafliF),i0J݌' Ќ  "i0J"  i0J2uh  6  .3  Ԉ0    markaWssetningu_ verWbrfasj;Wa_ ԀmeWstaWfestuinnanEvr;pska_ efnahagssvWisins_ Ԁhr  landi(1.mgr.43.gr.),i0JC݌ Ќ  "i0J"  i0J2uh  7  .3  Ԉ0    breytingu_ fjrfestingarsj;Wum_ Ԁsj;Wisemlgintakaekkitil(1.mgr.52._ Ԁgr.,_ Ԁsbr.2. `  mgr.5.gr.),i0J݌S+! Ќ  "i0J"  i0Jm2uh  8  .3  Ԉ0    _ ;hWi_ Ԁ_ rekstrarflaga_ Ԁog_ vrslufyrirtkja_ Ԁ_ fjrfestingarsj;Wa_ Ԁstrfumsnumogskyldu " YeirratilaWhafahagsmunieigenda_ hlutdeildarskrteina_ ԀaWleiWarlj;si(1.mgr.52.gr., # sbr.2.mgr.15.gr.),i0Jm݌ $ Ќ  "i0J"  i0J2uh  9  .3  Ԉ0    starfsemi_ vrslufyrirtkis_ Ԁ_ fjrfestingarsj;Wa_ Ԁ(1.mgr.52.gr.,sbr.20.gr.),i0J݌!W% Ќ  "i0J "  i0Jb112uh  10  .3  Ԉ0    _ fjrfestingarheimildir_ Ԁ_ fjrfestingarsj;Wa_ Ԁ(54.gr.og65.gr.)ogi0Jb݌J""& Ќ  "i0J "  i0J112uh  11  .3  Ԉ0    Yagnarskyldu(1.mgr.63.gr.,sbr.58.gr.lagaum_ fjrmlafyrirtki_ ).i0J݌#' Ќ    HverssemvsvitandigefurrangareWavillandiupplUsingarumhagi_ verWbrfasj;Ws_ ԀeWa #( _ fjrfestingarsj;Ws_ ԀeWaannaWerYvarWaropinberlegaeWatil_ Fjrmlaeftirlitsins_ ,annarra $ ) opinberraaWilaeWaviWskiptamannasinnaskalstasektumeWafangelsialltaWeinuri,liggi v%N!* YyngrirefsingekkiviWbrotisamkvmtWrumlgum. A&"+    '",   70.& a  gr. ( _ RefsibyrgW_ Ԁ_ lgaWila_ .Tilraunoghlutdeild._ Fyrning_ Ԁsakar.  n  N'a(~erbrotframiWstarfsemi_ fjrfestingarsj;Ws_ ԀsemgefurthlutabrfogerYheimiltaW  gera_ fjrfestingarsj;Wnum_ Ԁfsekt.Um_ refsibyrgWina_ ԀfereftirII.kaflaAalmennrahegn a ingarlaga. T,   TilrauntilbrotseWahlutdeildbrotumsamkvmtlgumYessumer_ refsiverW_ ԀeftirYvsem  segiralmennum_ hegningarlgum_ .  _   BrotlgumYessumvarWarefsinguhvortsemYaueruframinafsetningieWagleysi.     SksamkvmtkvWumYessakaflafyrnistfimmrum.  X   VI.KAFLI     Gildistakao.fl.     71.gr.     LgYessiWlastgildi1.jl2003.Xfallargildilgnr.10/1993,umverWbrfasj;Wi. wO    72.gr.      MeWlgumYessumerutekinuppkvWitilskipunarEvr;puYingsinsogrWsinsnr.   85/611/EBEumsameiginlegafjrfestinguframseljanlegumverWbrfum,meWsWaribreyt {  ingum. nF    kvWitilbrWabirgWa.  I.   R  StarfandiverWbrfasj;WirteljasthafastaWfestinguFjrmlaeftirlitsinsviWgildistku r Yessaralaga.VerWbrfasj;WiskalslitiWinnansexmnaWafrgildistkulaganna.Rekstrar e= flagverWbrfasj;WsskalsendaFjrmlaeftirlitinureglursj;Wsinsskv.12.gr.innansama 0 tmamarks.     II.  i k  VerWbrfasj;Wirsemhafastarfsleyfiskv.27.gr.laganr.10/1993viWgildistkulaga \4 Yessaraskulu;skaeftirstaWfestingusamkvmtlgumYessumeigisWarenYremurmn ' uWumfrgildistkuYeirra.     III.  `    Hlutabrfasj;WirogaWrirsj;Wirumsameiginlegafjrfestingutilalmenningssemheyra S+! undirlgYessiskulu;skaeftirstaWfestingueWaskjaumstarfsleyfisamkvmtlgum " YessumeigisWarenviWtgfunUshlutafjrflaginu.kvWi1.mlsl.Y;ekkiviWef # sj;WurinneraWeinsmarkaWssetturtilfagfjrfesta.  $   Sj;Wirskv.1.mgr.sem;skaeftirstaWfestingueWaskjaumstarfsleyfisemfjrfestingar !W% sj;WirsamkvmtlgumYessumskuluffresttil1.jl2004tilaWuppfyllakvWi54.gr. J""& @ #dggAthugasemdirviWlagafrumvarpYetta.#ggd Ԉ #(  1.Almennt.  $ )   GildandilgumverWbrfasj;WieruaWstofnitilfrrinu1993.MeWYeimvarinnleidd v%N!* slenskanrtttilskipunnr.85/611/EBEumsameiginlegafjrfestinguframseljanlegum A&"+ verWbrfum.0slenskumverWbrfasj;WumhefurvaxiWfiskurumhryggsWustuturum.  '", VerWbrfasj;WireruhentugleiWtilsparnaWarfyriralmenningogerusfelltaWverWavinslla '#- sparnaWarform.TilviWb;tarviWverWbrfasj;Wihafannurformsj;Waumsameiginlega (z$. fjrfestingu,semseljaalmenningihlutabrfeWahlutdeildrsameiginlegumpotti,skotiW ( r;tumslenskumfjrmlamarkaWi.Xessirsj;Wirhafaekkistarfsleyfistj;rnvaldaoglta  ekkiopinberueftirliti.EinnighafaslenskfjrmlafyrirtkisWusturumstofnaWverW  brfasj;WieWaaWrartegundirsj;Waumsameiginlegafjrfestinguerlendis,srlagi a LxemborgogWrumrkjumYarsemstarfsumhverfisj;Waumsameiginlegafjrfestingu T, YykirhvaWhagstWast.    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Stj;rn_ verWbrfasj;Ws_ Ԁ(e._ board_ Ԁof_ directors_ )gegnirlykilhlutverkiskipulagiogstarfsemi $ ) sj;Ws.Hnhefureftirlitogyfirumsj;nmeWrekstriogstarfsemisj;Wsins.Stj;rninkveWur v%N!* stefnusj;WsinsinnanrammasamYykktaogskalkomavegfyrirhagsmunarekstra_ sj;Ws A&"+ eigenda_ Ԁog_ rekstraraWila_ .Stj;rniryfirfaraogfylgjastmeWframkvmdsamningsinsviW  '",  _ rekstrarflag_ .Stj;rninaWtakaallarkvarWanirmeWUtrustuhagsmuni_ sj;Wseigenda_ Ԁhuga. '#- _ VerWbrfasj;Wur_ ԀhefurengasjlfstWastarfsemieWastarfsmennumfram&   virkaYtttku ( stj;rnar.Rekstu'(H]rhansogumsUslaerhndumannarraaWila:    _ Rekstrarflag_ Ԁ(e._ investment_ Ԁ_ adviser_ )berbyrgWdaglegri_ stUringu_ Ԁ_ eignasafni_ Ԁ_ verW  brfasj;Ws_ ԀinnanrammasamYykkta.XaWeruYvstarfsmennYesssemkveWahvaWaverWbrf a eigiaWkaupaogselja.X;knun_ rekstrarflags_ ԀmiWastviWhlutfallafmarkaWsverWmtisj;Ws. T, AWaukiseljamrg_ rekstrarflg_ Ԁ_ verWbrfasj;Wum_ ԀYYj;nustuaWsemjaviWoghafaeftirlit  meWWrumaWilumsemkomaaWrekstrihans.X;erhugsanlegtaWsrstakuraWili(e.  _ administrator_ )semjiviWsj;WinnumaWgegnaslku_ eftirlitshlutverki_ .     _ MarkaWsdreifingaraWili_ Ԁ(e._ principal_ Ԁ_ underwriter_ )berbyrgWmarkaWssetninguogslu  X Yj;nustu_ verWbrfasj;Ws_ .XessariYj;nustugetaUmisfyrirtkisinnt,tildmisverW K #  brfafyrirtki,_ lftryggingaflg_ Ԁog_ rWgjafarfyrirtki_ .X;ttflestir_ verWbrfasj;Wir_ Ԁgeri    samningaviW_ markaWsdreifingaraWila_ ԀtWkastlkaaWsj;WirnirseljimilliliWalausttilfjrfesta.    0slkumtilfellumhefursj;Wurstarfsmennsnumsnrum._ Vrsluflag_ Ԁ(e.bank_ custodian_ )   varWveitireignir_ verWbrfasj;Ws_ ԀogannastgreiWslurvegnakaupasj;Wsinsog_ innlausna_ . wO  _ UmsUsluaWilinn_ Ԁ(e._ transfer_ Ԁ_ agent_ )annast_ hluthafaskr_ ,treikningavegnatgfuog_ innlausn_  B  nUrrahlutaogfullngir_ upplUsingaskyldu_ Ԁsj;WsmeWYvaWsenda_ fjrfestum_ Ԁggnumgengi    hansogfleira.AukYessaraaWilatWkaststWugtrkarimliaWstj;rn_ verWbrfasj;Ws_ Ԁhafi   aWgangaW_ ;hWri_ Ԁ_ lgfrWilegri_ ԀrWgjf.LoksnUta_ verWbrfasj;Wir_ ԀsrYj;nustulggiltra {  endurskoWenda. nF @ AthugasemdirviWeinstakargreinarfrumvarpsins.    Um1.gr.  j  GreininafmarkargildissviWfrumvarpsinsogfelursrverulegabreytingufrlgumnr. r 10/1993.0gildandilgumum_ verWbrfasj;Wi_ Ԁsegir1.gr.: e=   ,,LgYessitakatilfyrirtkja,hreftirnefnd_ verWbrfasj;Wir_ ,semhafaeingnguaW 0 markmiWi  ! ! ;(eh88="i0J"  i0Jm2eh  1  .3  Ԉ0    aWveitaviWtkuffralmenningitilsameiginlegrarfjrfestingarframseljanlegum  verWbrfumogWrumeignumskv.27.gr.grundvelli_ httudreifingar_ Ԁsamkvmtfyrir i fram_ kunngerWri_ Ԁ_ fjrfestingarstefnu_ Ԁogi0Jmm݌\4 Ќ  "i0J"  i0Jo2eh  2  .3  Ԉ0    gefat_ hlutdeildarskrteini_ ԀtilYeirrasemfflaginuftilvxtunaroginnleysaYauaW ' krfueigendaafeignumflagsins. i0Joo݌ Ќ    01.mgr.3.gr.laganr.10/1993segirsWanaW_ verWbrfasj;Wum_ ԀmeWfullgiltstarfsleyfis  einumheimiltaWstundastarfsemiskv.1.gr. `    AfframangreindumkvWumleiWiraWsj;Wirumsameiginlegafjrfestingusemgefat S+! nnurskrteinien_ hlutdeildarskrteini_ Ԁtilfjrfestasj;WnumeWabj;Waekkiupp_ innlausn_  " aWkrfueigendaeruekkibundinafkvWumlaganna.XettahefurleitttilYessaWhrlandi # erutiltvkerfiumsj;Wiumsameiginlegafjrfestingu.Annarsvegareru_ verWbrfasj;Wir_ Ԁsem  $ heyraundirlgnr.10/1993,hafastarfsleyfistj;rnvaldaogltaeftirliti_ Fjrmlaeftirlitsins_ . !W% Hinsvegareru_ hlutabrfasj;Wir_ ԀeWasambrilegirsj;Wirumsameiginlegafjrfestingusem J""& reknireru_ hlutaflagsformi_ ,hafaekkistarfsleyfistj;rnvaldaogltaYvekkieftirliti #' _ Fjrmlaeftirlitsins_ .EnginkvWierulgumumstj;rn,skipulag,hagsmunarekstra,_ upp #( lUsingagjf_ ,_ innlausn_ Ԁog_ fjrfestingarstefnu_ ԀYessarasj;WaumframkvWi_ hlutaflagalaga_ . $ ) AlmenningursWangreiWanaWgangaWYessumsj;WumgegnumalmenntboWYessara v%N!* sj;WaeWaskrninguskipulegum_ verWbrfamarkaWi_ . A&"+   XaWtvfaldakerfisemrkirhrlandier;fullngjandi,tryggirekkiverndneytendameW  '", Yeimhttisemtlastertilaflggjf_ fjrmlamarkaWi_ ԀogviWgengstekkilndunum '#- kringumokkur.0ttekt_ AlYj;Wagjaldeyrissj;Wsins_ Ԁslenskum_ fjrmlamarkaWi_ ԀriW2000 (z$. komframaWnauWsynlegtvrifyrirstj;rnvldaWsetjalgsemgiltuum_ hlutabrfasj;Wi_ Ԁjafnt ( _ semverWbrfasj;Wi.    0greininniermltfyrirumeinkarttverWbrfasj;Waogfjrfestingarsj;WatilaWveita  viWtkuffralmenningitilsameiginlegrarfjrfestingarfjrmlagerningumogWrum a eignumgrundvellihttudreifingarsamkvmtfyrirframkunngerWrifjrfestingarstefnu. T, (i)ViWtakafjr.    MeWorWalaginu?viWtakafjr erttviWaWsj;Wurinnsopinn(e.open-ended),Y.e.hann   frnUttfjrmagnmeWYvaWseljanUskrteini.XettaviWumverWbrfasj;Wisamkvmt  X lgumnr.10/1993oghlutabrfasj;Wi.XrttfyrirflagsformiWeruhlutabrfasj;Wirreynd K #  opnirYvaWYeimertboWnUshlutafjrstWugteWanrstWugtgangiogYvfallaYeir    undirlgin.OrWalagiW?viWtakafjr verWuraWtlkarmt.0YvfelstekkiaWsj;WursmeW    stWugttboWgangiheldurerngjanlegtaWsj;WurinnfinUttfjrmagnfrfjrfestummeW   reglulegumillibiliogalmenningureigiauWveldanaWgangaWbrfumhans.Xanniggetalgin wO  ttviWumsj;Wiumsameiginlegafjrfestingusemekkikallasighlutabrfasj;Widag,enda B  ereinnmegintilgangurinnmeWfrumvarpiYessuaWgeratilteknarlgmarkskrfurtilsj;Wa    sembj;Waalmenningihlutdeildsameiginlegrifjrfestingu.XettatilokarhinsvegarlokuW   fjrfestingarflg,-h;paeWa-klbbasemkynnastarfsemisnaekkifyriralmenningioghafa {  ekkiaWmarkmiWiaWfjlgahluthfum. nF (ii)Almenningur.    HugtakiW?almenningur gegnirveigamikluhlutverkifrumvarpiYessu.HugtakiWerekki  skilgreinttilskipun85/611/EBE.AflgumumverWbrfaviWskipti,nr.13/1996,og r frumvarpiYvtillagaumverWbrfaviWskiptisemlagthefurveriWfram128.lggjafarYingi e= mrWaaWtilalmenningsteljastYeirsemekkierufagfjrfestar,takmarkaWurh;purmanna 0 eWaYeirsemkaupahlutfyrirharfjrhWir.    FagfjrfestareruskilgreindirreglugerWnr.477/2001,umtboWverWbrfa,ogfrumvarpi  tillagaumverWbrfaviWskipti.0athugasemdummeWfrumvarpiYvsemvarWaWlgumnr. i 163/2000,umbreytingulgumumverWbrfaviWskipti,varfjallaWumalmenningogtak \4 markaWanh;pmanna.XarkemurframaWmatskenntshvaWviWsttmeWtakmrkuWum ' h;pimannaendasekkiaWfinnannariafmrkuntilskipunum.0mrgumrkjumermiWaW  viWkveWinnfjldamannatilafmrkunarYvhvaWstakmarkaWurh;purmanna.Hr  landihefurveriWmiWaWviW25manns,sbr.29.gr.laganr.13/1996,umverWbrfaviWskipti. `  XessiviWmiWunvarupphaflegafenginmeWskrskotuntillaganr.9/1984,umfrdrttfr S+! skattskyldumtekjumvegnafjrfestingarmannaatvinnurekstri.Xeirsj;WirYarsemhver " viWskiptavinurYarfaWreiWaafhendia.m.k.fimmmillj.kr.tilkaupahlutsameiginlegri # fjrfestinguverWaheldurekkitaldirseljatilalmennings,enYaWleiWirafc-liW1.tlul.1.mgr.  $ 29.gr.lagaumverWbrfaviWskipti.SfjrhWskalY;aldreiveralgrien40Ysundevrur !W% miWaWviWopinbertviWmiWunargengiSeWlabanka0slands. J""& (iii)Sameiginlegfjrfesting. #(   MeWsameiginlegrifjrfestinguverWbrfumogWrumeignumerttviWYstarfsemi $ ) sj;WaaWtakaviWffrfjrfestumtilaWendurfjrfesta.XettaerYeirraeinastarfsemi.Slkir v%N!* sj;WirgetaekkiveriWblnduWumrekstri.TmisalmennhlutaflgsemeruskrWKauphll A&"+ 0slandsoghafaboWiWthlutaftilalmenningseruumsvifamiklirfjrfestarverWbrfa  '", markaWi.GengiYessaraflagaferaWmikluleytieftirYvhvernigtiltekstmeWfjrfestingar '#- starfsemiflagsins.SlkflgteljastekkitilverWbrfasj;Waogfjrfestingarsj;WahafiYau (z$. nnurmarkmiWenverWbrfasj;Wastarfsemi,Y.e.sublnduWumrekstri.Hinsvegarmundu ( teljasttilverWbrfasj;WaeWafjrfestingarsj;WaflgsemhafaannanrekstureinungisaW  nafninutil,eWatilaWkomavegfyriraWfallaundirlgYessi.:verulegurannarrekstur  mundiekkibreytaeWlistarfsemisj;Ws,engtihugsanlegaveriWbrotfjrfestingarstefnu a samkvmtYessumlgum. T, (iv)FjrmlagerningarogaWrareignir.    HugtakiWfjrmlagerningurerskilgreintfrumvarpitillagaumverWbrfaviWskipti.VerW   brfasj;Wirogfjrfestingarsj;WirhafahinsvegarheimildirtilaWfjrfestaWruenfjr  X mlagerningum,svosemaWbindafsittinnlnum. K #  (v)httudreifing.      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'   VerWbrfasj;WierheimiltaWmarkaWssetjaEvr;pskaefnahagssvWinu.0YessufelstaW  verWbrfasj;WirhafaEvr;pupassa,Y.e.verWbrfasj;WursemhefurfengiWstarfsleyfieinuaf  aWildarrkjumEvr;pskaefnahagssvWisinsgeturgrundvelliYessopnaWtib,eWahafi `  starfsemi,srhverjuhinnarkjannanYessaWYurfatilYesssrstaktleyfistj;rnvalda.VerW S+! brfasj;WiruppfyllallskilyrWitilskipunarumsameiginlegafjrfestinguframseljanlegum " verWbrfum. #   VerWbrfasj;WurerstofnaWurogrekinnafrekstrarflagiogerekkilgaWili.Xettaer  $ breytingfrgildandilgumYarsemverWbrfasj;Wireruhlutaflg.SgagnrUnihefurkomiW !W% framgildandifyrirkomulagaWYaWsofviWurhlutamikiWaWgerWursskilnaWurumaW J""& flagmeWjafntakmarkaWastarfsemiogverWbrfasj;Wurskuliverahlutaflag.Hlutverk #' verWbrfasj;WssraunekkiannaWenaWgeratvosamninga;annarsvegarviWrekstrarflag #( umrekstursj;WsinsoghinsvegarviWvrslufyrirtkiumvrslueignasj;Wsins.Nverandi $ ) fyrirkomulagYarsemYrrlgaWilarkomaaWrekstriogvrsluverWbrfasj;Wser;gagnstt v%N!* ogfl;kiW.XaWsamrmisttilskipunumsameiginlegafjrfestinguaWverWbrfasj;Wurs A&"+ stofnaWurogrekinnafrekstrarflaginYessaWverasrstakurlgaWili.SleiWerfarin  '", Yessufrumvarpi.HnervelYekktEvr;pu,m.a.frLxemborgYarsemslkursj;Wirnefnast '#- FCP(Fondscommundeplacement).HinsvegarerekkinUttursmguleikitilskipunarinnar (z$. aWbj;WauppstofnunverWbrfasj;WssrstkuhlutaflagimeWbreytileguhlutaf. (   RekstrarflaggefurthlutdeildarskrteinitilYeirrasemfsj;Wnumftilvxtunar.  SkrteinineruinnleysanlegaWkrfueigendaafeignumsj;Wsins.Uminnlausnhlutdeildar  skrteinaferskv.II.kaflaE. a   Fjrfestingarsj;WiruppfyllaekkitilskipunumsameiginlegafjrfestinguoggetaYvekki T, markaWssettskilrkisnEvr;pskaefnahagssvWinunstarfsleyfisviWkomandirki.Um  markaWssetningufjrfestingarsj;WaWrurkiferYveftirlgumYessrkis.    Fjrfestingarsj;WurgeturveriWtvennskonarformi.HanngeturveriWstofnaWurogrekinn   afrekstrarflagilktogverWbrfasj;Wur.HanngetureinnigveriWrekinnhlutaflagsformi.  X :lktverWbrfasj;WumgetaviWskiptavinirfjrfestingarsj;WumekkitWinnleystskrteini K #  sn.Uminnlausnfjrfestingarsj;Waferskv.III.kafla.      HeitinverWbrfasj;Wurogfjrfestingarsj;WureigaaWendurspeglanverandihugtaka    notkunfjrmlamarkaWi.HugtakiWverWbrfasj;Wurhefurfestsigsessihrlandiog   stendurfyrirhlutdeildhttudreifWusafniverWbrfasemtWerinnleysanleg.VerteraW wO  haldaYessarinotkunheitinuverWbrfasj;Wur.HugtakiWfjrfestingarsj;Wurhefurundan B  frnumrumveriWnotaWhrlandiumsj;Wisemhafahttusamarifjrfestingarstefnu.      Rekstrarflagerfjrmlafyrirtkisamkvmtlgumumfjrmlafyrirtki.0Yessum   lgumerhugtakiWstyttrekstrarflag.RekstrarflagierheimiltaWrekaverWbrfasj;Wiog {  fjrfestingarsj;WisemogaWrasj;Wiumsameiginlegafjrfestinguskv.4.gr. nF   Hlutdeildarskrteiniereintegundfjrmlagerningasamkvmtfrumvarpitillagaum 9 verWbrfaviWskipti.SkilgreininghlutdeildarskrteinumernUenhnleiWirafkvWum  gildandilagaumverWbrfasj;Wi.    Um3.gr. e=   0greininnierkveWiWumbreytingufrgildandilgum.0gildandilgumveitirviW 0 skiptarWherraverWbrfasj;WumstarfsleyfiaWfenginniumsgnFjrmlaeftirlitsins.Hrer  lagttilaWFjrmlaeftirlitiWveitiverWbrfasj;Wumogfjrfestingarsj;WumheimildtilaWhefja  starfsemi.SskipanersamrmiviWalmennavenjuEvr;puYarsemfjrmlaeftirlitannaW i hvortveitastarfsleyfieWainnaafhendiallaYundirbningsvinnuviWathugunums;knsem \4 nauWsynlegertilaWumskjandigetihlotiWstarfsleyfi.VeitingstarfsleyfiserraunaWeins ' einnhlutiafopinberueftirlitimeWfjrmlastarfsemiviWkomandifjrmlafyrirtkis.    VerWbrfasj;Wirogfjrfestingarsj;WirsemgefathlutdeildarskrteinifsvokallaWa  staWfestinguFjrmlaeftirlitsinsenfjrfestingarsj;Wirsemgefathlutabrffstarfsleyfi. `  stWanfyrirYessuersaWverWbrfasj;Wirogfjrfestingarsj;Wirsemgefathlutdeildar S+! skrteinieruekkilgaWilarheldurstofnaWirogreknirafrekstrarflgummeWstarfsleyfi. " RekstrarflaghefurfariWgegnumumfangsmikinnstarfsleyfisferilogveittFjrmlaeftir # litinuupplUsingarskv.5.gr.lagaumfjrmlafyrirtki.Fjrfestingarsj;Wirsemgefat  $ hlutabrferuhinsvegarlgaWilarogYurfasemslkiraWveitameiriupplUsingarWurenleyfi !W% fsttilaWhefjastarfsemi.XykirYvekkirttaWsamahugtaksnotaWumheimildirsj;Wanna J""& tilaWhefjastarfsemi. #'   &  0greininnierjafnframtkveWiWumaWFjrmlaeftirlitiWrskurWiumhvortstarfsemi #( fellurundirlgYessi'#.TaliWeraWviWm;tunframkvmdarlagannagetikomiWupptilfelliYar $ ) semekkiligguraugumuppihvortstarfsemiheyriundirlgin.MikilvgteraWslkum v%N!* tilfellumrskurWiFjrmlaeftirlitiWumhvortstarfseminfalliundirlgin.0YvefniYarf A&"+ FjrmlaeftirlitiWaWltatilmarkmiWaaWilameWsj;WnumogYeirraatriWasemumgetur  '", athugasemdumviW1.gr.kvarWanirFjrmlaeftirlitsinserunntaWkratilkrunefndar '#- samkvmtlgumnr.87/1998,umopinberteftirlitmeW_ fjrmlastarfsemi. (z$.   02.mgr.erkveWiWumskr_ Fjrmlaeftirlitsins_ Ԁyfir_ verWbrfasj;Wi_ Ԁog_ fjrfestingarsj;Wi_ . ( kvWiWerbyggt8.gr.lagaum_ fjrmlafyrirtki_ ԀenkrafaumaW_ FjrmlaeftirlitiW_ Ԁhldi  skryfir_ verWbrfasj;Wi_ Ԁer7.gr.laganr.10/1993.    Um4.gr. T, ?  Einkarttur_ verWbrfasj;Wa_ Ԁog_ fjrfestingarsj;Wa_ ԀnreingngutilYeirrarstarfsemiaWveita  viWtkuffralmenningitilsameiginlegrarfjrfestingar_ fjrmlagerningum_ ԀogWrum  eignumgrundvelli_ httudreifingar_ Ԁsamkvmtfyrirfram_ kunngerWri_ Ԁ_ fjrfestingarstefnu_ .   _ Eignarhaldsflg_ ,flgblnduWumrekstriogflgsemstarfaekkigrundvelli_ httu  X dreifingar_ ԀfallaYannigekkiundirlgin.Xessiflgmunduekkiteljasttilsj;Waumsam K #  eiginlegafjrfestingu.Sj;WirumsameiginlegafjrfestinguaWriren_ verWbrfasj;Wir_ Ԁog    _ fjrfestingarsj;Wir_ ԀeruYannigfyrstogfremstsj;WirsemveitaviWtkuffrWrumen    almenningi._ Rekstrarflgum_ ԀerheimiltaWstofnaslkasj;WisamkvmtYessarigrein,sbr.   og27.gr.lagaum_ fjrmlafyrirtki_ . wO    stWanfyrirYvaW_ einkartturinn_ Ԁnrekkitil_ fagfjrfestasj;Wa_ ԀersaWtaliWeraW_ fag B  fjrfestar_ ԀhafiYYekkinguogreynslutilaWberaaWmetahttu_ fjrfestingarkosta_ ԀogYurfi    Yvekkisambrilegri_ neytendavernd_ ԀaWhaldaogalmenningur.     XaWerekkertngildandilggjfsemkemurvegfyrirstofnun_ fagfjrfestasj;Wa_ ,Y;ekki {  fiYeirstarfsleyfi,en;lklegterY;aWslkirsj;WirverWistofnaWirhrlandivegna_ skatta nF legrar_ ԀstWuhlutaflaga.Erlendiseruslkirsj;WirmjgvinslirmeWal_ fagfjrfesta_ .0grein 9 innierlagttilaW_ rekstrarflg_ ԀgetihvortsemergefiWt_ hlutdeildarskrteini_ Ԁoghlutabrf.    _ Fagfjrfestasj;Wir_ ԀgetaveriWmjg_ httusamir_ ԀogerYaWstWanfyrirYvaWalmenningi  erekkigefinnkosturaWfjrfestaYeim.Hinsvegargeta_ fagfjrfestasj;Wir_ ԀveriWmjg r heppilegirtilaWminnkahttumjgst;ruogdreifWu_ verWbrfasafni_ ,samkvmtkenn e= ingunnium_ skilvirka_ ԀmarkaWi(e._ efficient_ Ԁ_ market_ Ԁ_ hypothesis_ ). 0   _ Fagfjrfestasj;Wir_ ԀfhvorkistaWfestingunstarfsleyfi_ Fjrmlaeftirlitsins_ ԀogeruYeirYv  ekki_ eftirlitsskyldir_ ԀaWilar.X;erlagttilaW_ rekstrarflg_ Ԁtilkynniumstofnunslkrasj;Watil  _ Fjrmlaeftirlitsins_ .Xrttfyrir102.gr.lagaum_ fjrmlafyrirtki_ ,semkveWurumeftirlit i _ Fjrmlaeftirlitsins_ ԀmeWstarfsemi_ fjrmlafyrirtkja_ ,_ Y.m.t._ Ԁ_ rekstrarflaga_ ,verWurekkilitiW \4 svoaW_ FjrmlaeftirlitiW_ ԀhafieftirlitmeW_ fagfjrfestasj;Wum_ . '   Um5.gr.    01.mgr.erkveWiWumstaWfestingu_ Fjrmlaeftirlitsins_ Ԁ_ verWbrfasj;Wi_ .VsastYvefni `  tilathugasemdaviW3.gr. S+!   02.mgr.ertekiWuppkvWi3.mgr.3.gr.laganr.10/1993.kvWiWerhluti_ tilskipunar_  " umsameiginlegafjrfestingu.VarYaWtaliWnauWsynlegforsendafyrirfrelsi_ verWbrfasj;Wa_  # tilstarfsemiinnan_ Evr;pusambandsins_ ԀogYarafleiWandieinniginnanEvr;pska_ efnahags  $ svWisins_ .XerYaWeinnig_ ryggisatriWi_ ԀfyrirviWskiptamenn_ verWbrfasj;Wa_ Ԁog_ fjrfest !W% ingarsj;Wa_ ԀaWsj;Wirniruppfyllivalltkrfurfrumvarpsins. J""&   & a 3.mgr.ertilkominvegna_ tilskipunar_ Ԁumsameiginlegafjrfestingu.RtteraWtakaYaW #' framaWYeimtilfellumsem_ fjrfestingarsj;Wur_ ԀerrekinnformihlutaflagserekkiYrf #( _ rekstrarflagi_ .'a#S $ )   Um6.gr. A&"+   GreininYarfnastekkiskUringa.  '",   '#-   Um&   7.gr. (   Vakin'(erathygliYvaWYaWer_ Fjrmlaeftirlitsins_ ԀaWmetahvenrums;kntelstfullbin.  TilaWumskjandisekkivafaumhversulengiYurfiaWbWarlausnar_ Fjrmlaeftirlitsins_   ertilrttingartekiWframaWtilkynnaskuli_ umskjandanum_ ԀumYaWYegarums;kntelst a fullngjandimeWYeim_ rttarhrifum_ ԀaW_ frestur_ ԀfariaWlWa. T,   Um8.gr.  y  GreininYarfnastekkiskUringa.     Um9.gr. K #    0greininnierutalinuppYautilviksemleittgetatil_ afturkllunar_ ԀstaWfestingar    _ verWbrfasj;Ws_ Ԁog_ fjrfestingarsj;Ws_ .FarinersleiW1.mgr.aWkveWaumheimild,fremur    enskyldu,_ Fjrmlaeftirlitsins_ ԀtilaWafturkallastaWfestingu.stWanersaW_ afturkllun_ Ԁer   _ Yyngjandi_ Ԁ_ stj;rnvaldskvrWun_ Ԁsemvelturmati,ogerYveWlilegtaW_ FjrmlaeftirlitiW_ Ԁhafi wO  svigrmtilaWmetahvortbeittskuli_ afturkllun_ ԀeWaWrumvgari_ rrWum_ .03._ tlul_ .er B  kvWisemWurvarsemskilyrWifyrirstarfsleyfi2._ tlul_ .2.mgr.2.gr.laganr.10/1993,    _ Y.e._ ԀaWsj;WurinnhefWiyfiraWrWa50_ millj_ ._ kr_ .eWaminnst10_ millj_ ._ kr_ .semskiptast_ a.m.k._    50aWila.EWlimlsinssamkvmtgetur_ verWbrfasj;Wur_ ԀekkisUntframviWveitingustaW {  festingaraWhannsyfirtiltekinni_ lgmarksstrW_ .EWlilegterhinsvegaraWgeraYrkrfur nF tilsj;WaaWYeirni_ lgmarksstrW_ Ԁtilteknumtma.0kvWinuergertrWfyriraWsj;Wir 9 hafiYrjmnuWieftirveitingu_ starfsleyfis_ ԀtilaWuppfyllaYessarkrfur.    02.mgr.erkveWiWumaW_ afturkllunarrrWinu_ ԀskuliekkibeittnYessaW_ rekstrarflagi_   hafifyrstgefistfriaWfrastarfsemisnalglegthorf.X;kunnaaWverafyrirhendiYr r aWstWuraW_ frestur_ Ԁgtileitttiltj;ns_ t.d._ ԀfyrirviWskiptamennfyrirtkisins.GeturYvekki e= veriWumfortakslausanrtt_ rekstrarflags_ ԀaWrWahvaWYettasnertir. 0   Um10.gr.  =  GreininYarfnastekkiskUringa. i   Um11.gr. '   0greininniermltfyrirumeinkartt_ verWbrfasj;Wa_ ԀtilaWnotatilnnariskUringar  starfsemisinniorWiW?_ verWbrfasj;Wur_  .HinsvegarerlagttilaWfelldverWibrottskylda  _ verWbrfasj;Ws_ ԀtilaWnotaheitiW,sbr.2.mgr.3.gr.laganr.10/1993.XesserY;vnstaW `  _ verWbrfasj;Wir_ ԀauWkennisigmeWYvheiti,endamtlaaWhagsmunirYeirrasjlfraleiWitil S+! YessaWglggtkomiframmarkaWssetninguYeirraaWum_ verWbrfasj;W_ ԀsaWrWa._ LagaboW_  " umYettavirWistYv;Yarft,einkummeWtillititilYessaWhtturuglingiaWveraeyttmeW # Yeimeinkarttitil_ heitis_ ԀsemframkemurkvWinu.  $   & a Um12.gr. J""& |  0greininnierkveWiWumhvaWskulikomaframreglumsem_ rekstrarflaginu_ Ԁerskylt #' aWsetjafyrir_ verWbrfasj;W_ .'aJ"Xarsem_ verWbrfasj;Wur_ Ԁersamkvmtfrumvarpinuekkihluta #( flagsemberaWsetjasrsamYykktirYarf_ rekstrarflag_ ԀaWsetjahonumreglur.GreinineraW $ ) mestuleytisamrmiviWkvWi8.gr.gildandilagaumsamYykktir_ verWbrfasj;Wa_ .Btt v%N!* erviWaWreglunumskulikomaframY;knunsem_ rekstrarflag_ ԀtekurfyrirYj;nustusna. A&"+   03.mgr.ersbreytingaW_ FjrmlaeftirlitiW_ ԀgeturveittundanYgufrtilkynningarskyldu  '", _ verWbrfasj;Wa_ Ԁtileigenda_ hlutdeildarskrteina_ Ԁumbreytingarreglumsj;Ws.Breytingar '#- samYykktum_ verWbrfasj;Wa_ Ԁsamkvmtngildandilgumeruoftminnihttar,_ t.d._ Ԁgetur (z$. YurftaWgeraltilshttarbreytingartextaeWabreytingvarWareinvrWungueina_ sj;Wsdeild_  ( _ afmrgum.0slkumtilvikumYj;narYaWekkihagsmunumeigendahlutdeildarskrteinaaW  verWbrfasj;WurinnleggiYannmiklakostnaWaWgerahverjumogeinumeigandahlut  deildarskrteinallumsj;Wnumgreinfyrirslkribreytingu.kvWigildandilagaerhins a vegarfortakslaustaWYvleytitilaWYaWberaWtilkynnallumeigendumhlutdeildarskrteina T, umallarbreytingarsamYykktumsamtYvaWauglUsaYropinberlega.EfFjrmla  eftirlitiWveitirundanYgueinsogaWframangreinirgtiYaWt.d.krafistYessaWrekstrar  flagiWbirtiopinberaauglUsinguYarsemvakinvriathygliaWreglumsj;WsinshefWiveriW   breytt.  X   Um13.gr.      LagtertilaWkvWi2.mgr.9.gr.laganr.10/1993umaWheimiltsaWverWbrfasj;Wur    sstarfrkturaWgreindumdeildumverWiviWhaldiW.FlestirslenskirverWbrfasj;Wireru   deildaskiptir.XeimverWurYvsjlfsvaldsetthvortYeirviWhaldadeildaskiptingunniviWYr wO  breytingarumhverfiverWbrfasj;WasemfelastfrumvarpiYessu.Lj;steraWvegnaYess B  aWverWbrfasj;WirverWaekkireknirformihlutaflaganifrumvarpYettaframaWgangaer    ekkisamahagrWingarYrfogWurdeildaskiptinguverWbrfasj;Ws.     0greininnisegirjafnframtaWhversj;WsdeildskulihafaaWgreindanfjrhaginnanrekstr {  arflags.MeWYessuerhnykktYeirrimeginreglu,semhefurveriWalmenntviWurkennd nF starfsemiverWbrfasj;Wa,aWeigendurhlutdeildarskrteinaeigieinungiskrfurYdeildsem 9 YeirhafattviWskiptiviW.    Um14.gr. r   GreininernUmli.HenniertlaWaWveratilskUringarYvhvernigeignirmyndast e= verWbrfasj;Wi. 0   Um15.gr.    GreininkveWurumaWgreiningurekstursogvrsluverWbrfasj;WaogermeginatriWum i ;breyttfrgildandilgum.Mikilbreytingerhinsvegarstarfsheimildumrekstrarflaga. \4 Rekstrarflgskv.12.gr.laganr.10/1993skulueingnguhafameWhndumdaglegan ' reksturverWbrfasj;WaeWaannarrafyrirtkjaumsameiginlegafjrfestingu.Rekstrarflag  skalverahlutaflageWaeinkahlutaflagoghafahlotiWviWurkenninguFjrmlaeftirlitsins.  0frumvarpitillagaumfjrmlafyrirtkierkveWiWumaWreksturverWbrfasj;Was `  starfsleyfisskyldstarfsemiogleyfitilYeirrarstarfsemiverWiekkiveittWrumenrekstr S+! arflgumverWbrfasj;Wa.RekstrarflgfstarfsleyfiFjrmlaeftirlitsinsoggetagrunni " YessstarfsleyfisopnaWtibeWaveittYj;nustunstofnunartibsallsstaWarEvr;pska # efnahagssvWinu.RekstrarflagfrrUmriheimildirtilstarfsemienWur.  $   &  AWskilnaWureinstakrastarfsYttaermjgmikilvgurYtturstarfsemifjrmlafyrirtkja, !W% gjarnannefndurknamrar(e.chinesewalls).'!ԀEkkierkrafistlagalegsaWskilnaWarlgum J""& umverWbrfaviWskipti.0tilskipunumsameiginlegafjrfestinguerhinsvegarlagaleguraW #' skilnaWurskilinn.0tilskipuninnisegiraWrekstrarflagmegiekkijafnframtveravrsluflag #( ogaWbWiYessiflgskulistarfameWhagsmunieigendahlutdeildarskrteinaaWleiWarlj;si. $ ) SrstaklegaerfjallaWumYetta;opinberrigreinargerWmeWUCITS-tilskipuninnisemgefin v%N!* vartriW1988.XarsegirlauslegriYUWingu: A&"+   ?ViWundirbningaWsetningutilskipunarinnarvarYeirrispurninguveltupphvortekki  '", vrinauWsynlegtaWtakasrstaklegafram,aWrekstrarflagogvrsluflagYyrftuekki '#- einungisaWveratveir;lkirlgaWilar,heldurYyrftivrsluflag,aukYessaWverasjlfstWur (z$. lgaWili,einnigaWvera;hWiviWskiptaleguogfjrmlalegutilliti(t.d.YannigaWengin ( tengslvrumilliYessaraaWilagegnumsameiginleganrekstureWastj;rnendurmeWtilliti  tilumtalsverWrar,beinnareWa;beinnareignaraWildareWaannarrafjrhagslegrahagsmuna).  XaWvriekkihgtaWsegjaaWfyrirtkinvru;hWYegarvrsluaWilinnerbankiog a rekstrarflagiWd;tturflagbankans,einsogtWkastUmsumaWildarrkjum.NiWurstaWanaf T, framangreindriumrWuvarsaWkveWiWvaraWkrefjasteingngulagalegsaWskilnaWar  tilskipuninni,enYaWY;ttirWlegtaWbtaYvviWaWrekstrarflagiogvrsluflagivriskylt  aWframkvmaverkefnisnsjlfstttogeingnguYgueigendahlutdeildarskrteina.      Um16.gr. K #    kvWiWerefnislega;breyttfr43.gr.laganr.10/1993.      Um17.gr.   %  0viWaukatvmeWtilskipunumsameiginlegafjrfestingukomaframhvaWaverkefni wO  teljasttilrekstursverWbrfasj;Wa.05.gr.tilskipunarinnarsegiraWlistinnsekkitmandi. B  ListinnertekinnmeWbeinumhttiuppYessagrein.MeWYveruverkefnirekstrarflaga    beturskilgreindenWurogaWgreiningverkefnarekstrarflagaogvrslufyrirtkjattiaW   liggjabeturfyrir. {    Um18.gr. 9 }  TilskipuninumsameiginlegafjrfestinguheimilarrekstrarflagiaWfelaWrumaWilum  verkefniYausemkveWiWerum17.gr.aWuppfylltumvissumskilyrWum(e.outsourcing).  0greininniertekinnupphluti5.gr.GtilskipunumsameiginlegafjrfestinguengerterrW r fyriraWreglugerWverWinnarkveWiWumtvistunverkefna. e=   BoriWhefurYvhrlandiaWrekstrarflaggerisamningviWvrslufyrirtkium 0 dagleganrekstursj;Ws.XhefursamilgaWilisinntbWidaglegumrekstriogvrslu.Xetta  hefurveriWrttlttmeWskUrumaWskilnaWieinstakrastarfsYttainnanvrslufyrirtkisins.  SamkvmtYessarigreinogbreytingumtilskipunumsameiginlegafjrfestinguverWurYetta i fyrirkomulagekkimgulegtYarsemtilskipuninkveWurnummeWskUrumhttiaW \4 rekstrarflaggetiekkiveriWskffufyrirtkiogYveraldreiheimiltaWtvistallverkefni ' skv.17.gr.JafnframtersrstaklegatekiWframtilskipuninniaWrekstrarflagisekki  heimiltaWvistastj;rnunfjrfestingarsamvalshjvrslufyrirtkiogtekurgreininmiWafYv.    VerWifrumvarpYettasamYykktmsegjaaWrekstrarflghafiumYrjmguleikaaWvelja. `  0fyrstalagiaWsinnaeingngufjrfestingarkvrWunumeWaeinhverjumWrumstarfsYttum S+! 17.gr.nnurverkefniyrWufalinWrumaWilum,t.d.vrslufyrirtkisemgtiveriWm;Wur " flagrekstrarflagsins.XessileiWfelursrminnstabreytingustarfsemirekstrarflagafr # Yvsemalgengasterdag.0WrulagierhugsanlegtaWrekstrarflagsinnillumverkefnum  $ 17.gr.ennUtiekkiheimildirsnartilaWsinnaannarristarfsemienrekstriverWbrfasj;Wa.0 !W% YriWjalagiermgulegtaWrekstrarflagfullnUtistarfsheimildirsnarogverWialhliWaeigna J""& stUringarfyrirtki. #'   Um19.gr. $ ) 2  kvWiYettaernUmli,enskv.1.mgr.8.gr.laganr.87/1998,umopinberteftirlitmeW v%N!* fjrmlastarfsemi,skalFjrmlaeftirlitiWmeWalannarsfylgjastmeWYvaWstarfsemi A&"+ eftirlitsskyldraaWilassamrmiviWheilbrigWaogeWlilegaviWskiptahtti.MeWhugtk  '", unumg;WirviWskiptahttirogvenjurerbWittviWfyrirmlisemleiWaafsettumlgum, '#- einsogt.d.11.gr.tilskipunar93/22/EBumfjrfestingarYj;nustusviWiverWbrfaviWskipta, (z$. ogeinsalmennarisiWareglurogviWteknarvenjurfjrmlastarfsemieWaeinstkumundir ( greinumhennar.SambrilegtkvWierlgumumfjrmlafyrirtkiogfrumvarpitillaga  umverWbrfaviWskipti.    Um20.gr. T,    EngarbreytingarverWastWuvrslufyrirtkissamkvmtfrumvarpinu.Rekstrarflag  YarfaWgerasamningviWvrslufyrirtkiumvrslueignaverWbrfasj;Ws.MeWaWskilnaWi  millidaglegsrekstursverWbrfasj;WaannarsvegarogumsjrmeWYeimeignumsemsj;W   urinnhefurfjrfesthinsvegarerstefntaWfrekariverndfyrireigendurhlutdeildarskrteina.  X VrslufyrirtkiertlaWaWstuWlaaWYvaWfjrmunirsufjrfestirmeWlgmtumhtti K #  samrmiviWkvWilagaogreglnaverWbrfasj;WaogfariWsaWfyrirmlumrekstrarflags    umrWstfuneignannanemaYausuandstWlgumeWasamYykktum.0samrmiviWYetta    bervrslufyrirtkieinnigaWfylgjastmeWYvaWsalahlutdeildarskrteina,innlausnYeirraog   treikningurinnlausnarvirWifariframsamrmiviWkvWilagaogreglnasj;Wsins.Vakin wO  skalathygliYvaWtlul.1.!2.og4.!5.ernotuWsgnin?aWtryggja staWinnfyrir?aWsj B  um ,sbr.1.mgr.14.gr.gildandilaga.XykirYaWfaranrkvWitilskipunarumsam    eiginlegafjrfestinguumYettaefni.     Um21.gr. nF Ӏ  Greininerefnislega;breyttfr2.mgr.14.gr.og15.gr.laganr.10/1993. 9   Um22.gr.    1.mgr.er;breyttfr3.mgr.14.gr.laganr.10/1993og2.mgr.leiWiraftilskipunum r sameiginlegafjrfestingu. e=   Um23.gr.    0greininnierkveWiWumtgfuhlutdeildarskrteina.01.mgr.erkveWiWum  meginreglunaumaWrekstrarflaggefithlutdeildarskrteini.Hrersefnisbreytingfr16. i gr.laganr.10/1993aWrekstrarflagiWgefurhlutdeildarskrteinintenekkiverWbrfa \4 sj;Wurinn. '   02.mgr.kemurframsmeginrttureigendahlutdeildarskrteinaaWYeireigisamartttil  teknaogeignasj;WsinshlutfalliviWhlutdeildsna,sbr.skilgreiningu2.gr.frumvarpsins.  XettakvWikemurekkivegfyrirYaWaWhgtsreglumsj;WsinsaWheimilamismunandi `  umsUsluY;knuneftirstrWhlutaeinstakraviWskiptavinaoggefathlutdeildarskrteini S+! mismunandiflokkumensframkvmdtWkastt.d.Lxemborgog0rlandi. "   03.mgr.kemurframundanYgafr1.mgr.umaWskyltsaWgefathlutdeildarskrteini. # FramaWsetningulaganr.21/1996,umbreytingulgumnr.10/1993,varskyltaWgefat  $ hlutdeildarskrteini.MeWlgumnr.21/1996varWsbreytingaWviWskiptavinirYurftu !W% srstaklegaaW;skaeftiraWfhlutdeildarskrteinitgefiW.AfYessuvarWmikilhagrWing. J""& EkkiervitaWtilYessaWhlutdeildarskrteinihafiveriWgefiWteftirgildistkulaganr. #' 21/1996.RekstrarflagheldurYutanumhlutdeildviWskiptavinaverWbrfasj;Wisnu #( upplUsingakerfi. $ )   HeimilteraWgefahlutdeildarskrteinitrafrnuformieWapappr.Suhlutdeildar v%N!* skrteiningefintsemrafbrfverWbrfamiWstWgetaeigendurhlutdeildarskrteinaekki A&"+ ;skaWeftiraWftgefinhlutdeildarskrteinipappr,sbr.kvWilagaumrafrnaeignar  '", skrninguverWbrfa. '#-   EkkierlengurfortakslaustkveWiWumaWhlutdeildarskrteiniskuliskrWnafn.05.mgr. (z$. kemurframaWhgteraWsetjahlutdeildarskrteinisafnreikning,sbr.kvWiverWbrfa ( viWskiptalaga.      Um24.gr. a &  Greininerefnislega;breyttfr17.gr.laganr.10/1993.VakinskalathygliYvaW4. T, tlul.1.mgr.erkveWiWumaWnafnogkennitalaframsalshafaskuliskrWhlutdeildar  skrteiniW.Hlutdeildarskrteinieruframseljanlegirfjrmlagerningar.SkvWfylgirY;aW  rekstrarflagskalhaldaskryfirllhlutdeildarskrteinisj;Wnumogtilkynnaskaleig   endaskiptihlutdeildarskrteinatilrekstrarflagsskv.25.gr.Framkvmdinhefurhinsvegar  X veriWsaWhlutdeildarskrteinihafaekkigengiWkaupumogslumheldurinnleystafverW K #  brfasj;WnumaWkrfueigendahlutdeildarskrteina,endahvlirYeiminnlausnarskylda.      Um25.gr.   *  Greininerefnislega;breyttfr18.gr.laganr.10/1993aWYvundanskilduaW3.mgr.18. wO  gr.fellurbrottvegnabreyttsrekstrarformsverWbrfasj;Ws. B    Um26.gr.   +  FyrrimlsliWurgreinarinnarer;breytturfr1.mgr.19.gr.laganr.10/1993.Seinni {  mlsliWurinnleiWiraftilskipuninniumsameiginlegafjrfestingu. nF   Um27.gr.  ,  kvWiuminnlausneruefnislega;breyttfr2.og3.mgr.19.gr.laganr.10/1993.0  athugasemdummeWfrumvarpisemvarWaWlgumnr.10/1993sagWisvoumYettakvWi: r ?KomitilfrestunarsamkvmtkvWinuskalhnveraalmennogtakatilallrahlutdeildar e= skrteina.kvWiWerundantekningfrmeginreglufrumvarpsinsuminnlausnaWkrfu 0 eigendahlutdeildarskrteinaogberaWtlkaYannigaWtilfrestunarinnlausngetieingngu  komiWmlisrstakaraWstWurmeWYvmeWtillititilhagsmunaeigendaskrteinanna,enda  sverWbrfasj;Wur;frumaWuppfyllaskyldursnartilinnlausnar.Semdmiumslktilvik i mnefnalokunkauphallarYarsemverulegurhlutieignasj;WsinserskrWurYannigaWekki \4 reynistunntaWstaWreynainnlausnarvirWihlutdeildarskrteina.EinniggtiverWbrfasj;Wur ' staWiWframmifyrirsvomiklumkrfumuminnlausnaWekkivriunntaWmtaYeimnema  meWslueignasemtekiWgtieinhverntma.Ltaberheimildirtilfrestunarinnlausnsem  tmabundnarogskulusamYykktirhafaaWgeymannarikvWiumslkarheimildir.  `    Um28.gr. " 2Ӏ  Greininer;breyttfr4.og6.mgr.19.gr.laganr.10/1993. #   Um29.gr. !W% Y3  Greininer;breyttfr5.mgr.19.gr.laganr.10/1993. J""&   UmII.kaflaF. #( 3  FjrfestingarheimildirverWbrfasj;WafrumvarpiYessuerutalsvertbreyttarfrgildandi $ ) lgum.MeWtilskipun2001/108/EBumbreytingutilskipun85/611/EBEumsameiginlega v%N!* fjrfestinguvorufjrfestingarheimildirverWbrfasj;WaauknarY;aWUmsargrunnreglurum A&"+ httudreifinguvru;breyttarfreldritilskipun.MarkmiWbreytingatilskipunarinnareraW  '", eflahiWsamrmdaevr;pskaformverWbrfasj;Wa.Xrreglursemsettarvoruumfjrfest '#- ingarheimildirverWbrfasj;WariW1985hafaekkistaWisttmanstnnendahafaevr;pskir (z$. fjrmlamarkaWirgerbreystfrYeimtma.TilYessaWkomavegfyriraWsfelltfleiri ( evr;pskirsj;WirumsameiginlegafjrfestinguvruutanviWgildissviWtilskipunarinnarvar  taliWnauWsynlegtaWvkkafjrfestingarheimildirverWbrfasj;Wa.    MeWlgumnr.17/1999,umbreytingulgumnr.10/1993,varheimilaWaWstofnaverW a brfasj;WisemeingnguyrWumarkaWssettirhrlandi.ViWgerWYessfrumvarpsvarhfW T, hliWsj;naftillguaWtilskipunsemframkvmdastj;rnEvr;pusambandsinshafWigefiWt  riW1998ogvarWsWanaWfyrrgreindritilskipunnr.2001/108/EB.Allmargarbreytingarvoru  Y;gerWartillguframkvmdastj;rnarinnarYeimYremurrumsemliWufrtgfutil   lgunnarogYartiltilskipuninvarsamYykktrWinuogEvr;puYinginu.Sexsj;Wirsem  X byggjastkvWum27.gr.laganr.10/1993,meWYeimbreytingumsemgerWarvorumeW K #  lgumnr.17/1999,hafafengiWstarfsleyfiviWskiptarWherra.      Um30.gr.   [<  0YessarigreinerkveWiWumYauskjlsemverWbrfasj;WumerheimiltaWfjrfesta. wO  Listinnerlengriogtarlegrienssemframkemur20.gr.laganr.10/1993enersamrmi B  viW19.gr.tilskipunarinnar.AukverWbrfaogpeningamarkaWsskjalasemskrWhafaveriW,    eWaviWskiptieigasrstaWmeW,skipulegumverWbrfamarkaWiognUtgefinnaverWbrfa   erheimiltsamkvmtgreininniaWfjrfesta,eWabindaf,hlutdeildarskrteinumeWahluta {  brfumverWbrfasj;Waogannarrasj;Waumsameiginlegafjrfestingu,innlnum,afleiWum nF ogpeningamarkaWsskjlumutanskipulegraverWbrfamarkaWaaWskilyrWumgreinarinnarog 9 reglugerWaruppfylltum.    Um31.gr. r ?@  0greininnikemurframmikilvgreglasemersamrmiviW20.gr.laganr.10/1993.Hn e= ergjarnanklluW90%reglan,Y.e.90%eignaverWbrfasj;WsverWatWaWveraskrWum 0 verWbrfumeWaWrumeignumskv.30.gr.AlltaW10%eignasj;WsinserheimiltaWfjrfesta  WrumverWbrfumogpeningamarkaWsskjlumenframkoma30.gr.,aWallega;skrWum  verWbrfum. i   02.mgr.erkveWiWumaWverWbrfasj;WisheimiltaWeigareiWufeWaauWseljanlegar \4 eignirtilskammstma(e.ancillaryliquidassets).XaWermikilvgtaWverWbrfasj;Wursem ' frnUttfvegnasluhlutdeildarskrteinaeWasluverWbrfaeigusj;Wsinseigimguleika  YvaWbWameWaWfjrfestaeWabindafWeinhvernafmarkaWantmaefaWstWurtil  viWskiptaeruekkiheppilegarYeimtma.XaWvri;heppilegtefreglurskylduWusj;Winn `  aWfjrfestastrax.XaWerY;lj;staWYaWvriandsttthugmyndafrWinniaWbakiUCITS- S+! sj;WumefverWbrfasj;WurhefWieignarhaldreiWufeWaauWseljanlegumeignumsemhluta " affjrfestingarstefnusinni. #   Um32.gr. !W% F  1.mgr.er;breyttfr2.mgr.26.gr.laganr.10/1993. J""&   2.mgr.er;breyttfr5.mgr.20.gr.laganr.10/1993. #'   Um33.gr. $ ) G  kvWiWernUmliogersettsamrmiviW21.gr.tilskipunarumsameiginlegafjr v%N!* festingu.kvWiWkemurtilafYvaWtilskipun2001/108/EBumbreytingutilskipunum A&"+ sameiginlegafjrfestinguerverWbrfasj;WumheimilaWaWeigaviWskiptimeWafleiWurrkari  '", mli.AfleiWurhafaveriWmikiWsviWslj;sinualYj;WafjrmlamrkuWumvegnamikillar '#- httusemsj;Wsstj;rarogspkaupmennhafatekiWmeWslkumsamningum.AfleiWureru (z$. Y;mikiWnotaWirtilaWtryggjasiggegnhttu,t.d.tilaWtryggjasrkveWiWverWviW ( skiptumaWkveWnumtmaliWnum.    Xarsemrekstrarflagerfjrmlafyrirtkiskilningifrumvarpstillagaumfjrmla  fyrirtkiYskalYaWskv.17.gr.YeirralagahafahverjumtmayfiraWrWatryggueftir a litskerfimeWhttutengslumviWallastarfsemisna.kvWiYessarargreinarerutilfrekari T, rttingarYvaWnauWsynlegteraWgtasrstaklegaaWYeimhttuYttumsemltaaW  viWskiptummeWafleiWusamninga.    Um34.gr.  X kM  kvWiWeraWhlutatilsamrmiviW27.gr.laganr.10/1993,sbr.4.gr.laganr.17/1999 K #  YarsemtilteknarvoruheimildirverWbrfasj;WssemeingnguerheimiltaWmarkaWssetjahr    landi.kvWiWernfyllraogtekurtilallrasj;WasemheimildhafatilmarkaWssetningar    Evr;pskaefnahagssvWinu.     AfleiWurerusamningarYarsemverWmtisamningserleittafverWbreytingumeinhvers wO  annarsYttareWaeignar.AlgengustuafleiWusamningarnireruframvirkirsamningar(e. B  forward/futurecontracts)ogvalrttarsamningar(e.options).Munurinnframvirkumsamn    ingumogvalrttarsamningumergr;fumdrttummunurinnskylduogrtti.Framvirkur   samningurer;afturkrfursamningurmillitveggjaaWilaumkaupeWaslutiltekinnieign {  tilteknuverWitilteknumtmaframtWinni.Valrttarsamningurveitirhinsvegarkaupanda nF snumrtt,ekkiskyldu,tilaWkaupaeWaseljaeignkveWnuverWikveWnumtmaeWa 9 tmabili.    01.mgr.erhttanafafleiWusamningumverWbrfasj;WatakmrkuWYarsemsj;Wier  valltskyltaWeigahfilegarogngjanlegaverWmtareignirm;timetnuhmarkstapiaf r afleiWu.httanerjafnframttakmrkuWaf40.gr.frumvarpsinsYarsemframkemuraW e= verWbrfasj;Wier;heimiltaWtakannurlnenskammtmalntilaWstandastraumafinn 0 lausnhlutdeildarskrteina.XaWerYvekkiunntaWeigaviWskiptimeWafleiWurogskuldsetja  verWbrfasj;WinnumleiW.    kvWi1.mgr.ertlaWaWkomavegfyriraWverWbrfasj;Wirtakisigopnarskuld i bindingarsemgetafrWilegaleitttil;endanlegamikilstapsefverWYr;unverWur;hagstW. \4 XaWhindrarsj;WinaY;ekkiaWnUtasrhagrWiYaWsemafleiWumfelst.XaWert.d.f;lgiW ' lgriviWskiptakostnaWioggefurfriskj;tariviWbrgWumenefhndlaWermeWundir  liggjandieignir.JafnframtersleiWopinfyrirsj;Wi,semhafamjgkveWnaskoWunverW  Yr;unframtWinni,aWaukahagnaWarmguleikasnameWkaupumvalrttarsamningum. `  XeirhttaYekkimeiraenupphaflegufjrhWinnisemYeirleggjatbyrjun.AfleiWurnar S+! getalkaveriWhentugarverWbrfasj;WumsemhafamiklatrframtWkveWinsfyrirtkis " enviljaekkitakamarkaWshttu. #   02.mgr.kemurframsreglaaWviWskiptimeWafleiWureigiekkiaWbreytaYvaW  $ undirliggjandieignirsuundirmrkumumhmarkfjrfestingaeinumtgefanda. !W%   Um35.gr. #' Z  kvWiYessarargreinarfelursrtakmarkanirheimildumverWbrfasj;Wa,eWaeinstakra #( deildaYeirra,tilaWfjrfestaverWbrfum,peningamarkaWsskjlumeWainnlnumsama $ ) tgefanda.kvWinuertlaWaWtryggjaeWlilegahttudreifingufjrfestinguverWbrfa v%N!* sj;WaogtekurmiWaftilskipunumsameiginlegafjrfestingumeWYeimbreytingumsemleiWa A&"+ aftilskipun2001/108/EBE.GreininerllummeginatriWumbyggW21.gr.laganr.  '", 10/1993.BtterviWtakmrkunbindingufjrinnlnumen;heimilterskv.1.mgr.aW '#- bindameiraen20%afeignumverWbrfasj;WsinnlnumsamaviWskiptabankaeWaspari (z$. sj;Ws.XettaerurUmriheimildirenalmenntgildaumfjrfestinguverWbrfumeinstaks ( tgefandaYarsemalmennareglaner10%.2.mgr.umtakmarkanirviWskiptummeWaf  leiWusamningaviWsamaaWilaereinnignUmli.    EinbreytingerY;gerWfrgildandilgumensamkvmtfrumvarpinuerlagttilaW3.mgr. a 21.gr.verWifelldbrott.Skv.1.mgr.21.gr.laganr.10/1993erverWbrfasj;WieWaeinstakri T, deildinnanhans;heimiltaWfjrfestameiraen10%afeignumsnumverWbrfumtgefnum  afsamatgefanda,sbr.Y;22.og23.gr.0tilvitnaWrimlsgreinkemurframmeginreglalag  annaumhmarkfjrfestingaeinstkumtgefenda.     Tilteknarundantekningarerufrframangreindrimeginreglu,YarmeWal3.mgr.21.gr.  X laganna.XarsegiraWYrttfyrirkvWi1.mgr.getiFjrmlaeftirlitiWheimilaWverWbrfasj;Wi K #  aWfjrfestaalltaW25%afeignumsnumskuldabrfumtgefnumafsamatgefanda,enda    sumaWrWalnastofnuninnanEvr;pskaefnahagssvWisinssemlUturlgbundnueftirliti.    FramangreindkvWibyggjasttilskipunEvr;pusambandsinsnr.85/611,meWsWaribreyt   ingum.0tilskipun85/611kemurjafnframtframaWumkveWinskuldabrfsaWrWaog wO  andvirWislkraskuldabrfaskulinotatilfjrfestingaeignumsemyfirallangildistma B  skuldabrfannagetastaWiWundirkrfumsamkvmtskuldabrfunumognotaWaryrWu    forgangsgrundvellitilYessaWendurgreiWahfuWst;loguppsafnaWavextieftilgjaldYrots   tgefandakmi. {    0athugasemdumviW3.mgr.21.gr.frumvarpstillaganr.10/1993sagWiaWhfWvri nF ?hliWsj;nafsamskonarkvWumreglumEvr;pubandalagsinssemvorusettarsrstaklega 9 meWtillititilaWstWnaDanmrkuYarsemmikiWerumfjrfestinguverWbrfumtryggWum  meWveWifasteignumvegnahsnWislnakerfisYar.X;ttiheppilegtaWtakainnfrumvarpiW  samskonarkvWimeWtillititilhugsanlegrabreytingaYessusviWihrlandi .Fleirirki r enDanmrkhafanUttsrYessaheimildtilskipunarinnaroghafasvokallaWar?hypotek  e= lnastofnanirgefiWtskuldabrfsemfallaundirframangreindaskilgreiningutilskipunar 0 innarogtengjasthsnWislnakerfiviWkomandilanda.HrlandierhsnWislnakerfiW  hinsvegarYanniguppbyggtaW0bWalnasj;WurgefurthsbrfsemerumeWrkisbyrgW.  FjrfestingarverWbrfasj;WahsbrfumfallaYvundir2.mgr.21.gr.eWa22.gr.laganr. i 10/1993,Y.e.YaukvWierfjallaumfjrfestingarverWbrfumsemerugefinteWameW \4 byrgWrkis. '   &  Erlj;staWenginskuldabrferugefinthrlendisaflnastofnunum,aW0bWalnasj;Wi  undanskildum,semfalla'?lԀundirframangreindaskilgreiningutilskipunarinnar.Hinsvegarhafa  einstakaverWbrfasj;WirmisskiliWkvWi3.mgr.21.gr.ogtaliWaWkvWieigialmenntviW `  umskuldabrfogpeningamarkaWsvxlatgefnaaflnastofnunum.ErYvlagttilaWkvWiW S+! verWifelltbrottYarsemYaWhefurengaraunhfaYUWinguogbreytingarnverandi " hsnWislnakerfiekkifyrirsjanlegar. #   Um36.gr. !W% o  Samkvmt35.gr.ermeginreglansaWverWbrfasj;WurhefurekkiheimildtilaWfjrfesta J""& meiraen10%afeignsinniverWbrfumogpeningamarkaWsskjlumtgefnumafsama #' tgefanda.0YessarigreinerundanYgafrYessarimeginregluogerhnst;rumdrttum #( samrmiviW2.mgr.27.gr.laganr.10/1993,sbr.4.gr.laganr.17/1999,umheimildir $ ) verWbrfasj;WasemgetaekkimarkaWssetthlutdeildarskrteinisnEvr;pskaefnahags v%N!* svWinu. A&"+   stWanfyrirYessarirUmkunersaWYaWermjgalgengterlendisaWfjrfestingarstefna  '", verWbrfasj;WamiWistalfariWviWYaWaWendurspeglakveWnarverWbrfavsitlur,srstaklega '#- hlutabrfavsitlur(e.index-trackerfunds).XerfjrfesthlutabrfumYeirrafyrirtkjasem (z$. YykjagefasemrttastamyndafmarkaWnumheild.Reglurtilskipunarum_ sameiginlega ( fjrfestinguhafagertYaWmrgumtilfellumerfittaWendurspeglakveWnar_ hlutabrfa  vsitlur_ ,vegnaYessaW;heimilteraWfjrfestameiraen10%afeignumsnumverWbrfum  tgefnumafsamatgefanda.stWanersaWofterstrstafyrirtkiW_ hlutabrfamarkaWi_  a Yj;Wa,eWatiltekinniatvinnugrein,strraennemurtundahlutamarkaWarins. T,   0greininnikemurframaWmeginreglaneraW_ hmarksvgi_ Ԁhverstgefandaer20%ef  markmiWiWeraWlkjaeftir_ verWbrfavsitlu_ ԀogerYaWsamrmiviWtilskipunumsam  eiginlegafjrfestingu._ Fjrmlaeftirlitinu_ ԀerhinsvegarheimiltaWhkkamrkin35%Yv   tilvikiaWvgieinsaWilavsitlunniermeiraen20%.  X   Um37.gr.    Ax  Greininerefnislega;breyttfr22.gr.laganr.10/1993aWWruleytienYvaW_ pen    ingamarkaWsskjlum_ ԀhefurveriWbttviW.     Um38.gr. B  iy  Greininfelursrbreytingufyrirsj;WisemheimildhafatilmarkaWssetningarEvr;pska    _ efnahagssvWinu_ Ԁens_ meginhugsun_ Ԁsemgreininbyggistvarlgfest4.gr.laganr.   17/1999.023.laganr.10/1993erkveWiWumaWfjrfesting_ verWbrfasj;Ws_ Ԁ_ hlutdeildar {  skrteinum_ Ԁannarra_ verWbrfasj;Wa_ Ԁmegiekkifarayfir5%afeignumhans.Sj;Wirsemfjr nF festa_ hlutdeildarskrteinum_ Ԁannarra_ verWbrfasj;Wa_ Ԁnj;tamikillavinsldaerlendisog 9 nefnast_ sj;Wasj;Wir_ Ԁ(e._ funds_ Ԁof_ funds_ ).XareWYeirfjrfestaWrumsj;Wumer_ httudreifing_   Yeirramjgmikil.HinsvegarertaliW;eWlilegtaWslkheimildsntakmarkanaogeruYau  mrksemgreininkveWurumsamrmiviW_ tilskipunina_ .VakinerathygliYvaWekkier r tluninaWkvWiWverWitlkaWYannigaWheimiltsaWfjrfestamrgum_ sj;Wsdeildum_  e= sama_ verWbrfasj;Ws_ ԀaWhmarki20%hverri. 0   Um39.gr.  :  kvWiWerefnislega;breyttfr1.mgr.24.gr.laganr.10/1993.kvWinuertlaWaW i tryggjaennfrekar_ httudreifingu_ Ԁfjrfestingu_ verWbrfasj;Wa_ .EndaY;ttfjrfestings \4 innanYeirramarkasemnnurkvWifrumvarpsinssetjagtu_ verWbrfasj;Wir_ Ԁfjrfest ' jafnvelllumverWbrfumeWaWrum_ fjrmlagerningum_ Ԁtiltekinstgefanda.Slktvri  andstWuviW_ grundvallarsj;narmiW_ Ԁum_ httudreifingu_ Ԁrekstri_ verWbrfasj;Wa_ .Xveru  Yessartakmarkanirsettar.03._ tlul_ .erY;rUmkunfrgildandilgumogerYaWsamrmi `  viWbreytingartilskipunumsameiginlegafjrfestingu. S+!   Um40.gr. # Ʉ  GreininerhliWstW28.gr.laganr.10/1993.0samrmiviW_ tilskipunina_ Ԁer1.mgr.btt  $ viWaWYrttfyriraW_ verWbrfasj;Wi_ Ԁs;heimiltaWveitalneWagangabyrgWfyriraWraY !W% felstekkiYvbannviWaWveitaftilYeirraaWilasemgefat_ fjrmlagerninga_ Ԁskv.30.gr. J""& VakinskalY;athygliYvaWekkimnotaviWskiptimeW_ afleiWur_ ԀtilaWsniWgangaYessa #' greineWaaWrartakmarkanirYessumkafla. #(   Um41.gr. v%N!*   kvWiWer;breyttfr6.mgr.20.gr.laganr.10/1993.Tilskipunumsameiginlega A&"+ fjrfestingubannar_ verWbrfasj;Wum_ ԀaWstundaYaWsemnefnistensku?_ uncovered_ Ԁ_ sales_ Ԁof  '", _ transferable_ Ԁ_ securities_  ,einnignefnt?_ short_ Ԁ_ sale_  .tterviWaW_ verWbrfasj;Wi_ Ԁs;heimiltaW '#- seljaverWbrfsemekkierueigusj;WsinsYeimtmasemsalanferfram,_ Y.e._ Ԁ_ verWbrfasj;Wi_  (z$. er;heimiltaWtakaverWbrfaWlnitmabundiWtilaWseljaYau.kvWiWer&  samrmiviW ( tilskipun'( umsameiginlegafjrfestingu.    Um42.gr. a   Greininerefnislega;breyttfr25.gr.laganr.10/1993.MeginreglanersaWannmarkar T, fjrfestinguverWi_ lagfrWir_ Ԁn_ stWulauss_ Ԁdrttarnemasrstktilvik,meWtillititil  hagsmuna_ verWbrfasj;Wsins_ ԀogviWskiptamannahans,rttltiannaW.    UmII.kaflaG.  X   UmmarkaWssetningu_ verWbrfasj;Wa_ ԀutanheimalandserstuWstviWkaflaV.frumvarpi K #  tillagaum_ fjrmlafyrirtki_ ,38.gr.laganr.10/1993ogreglugerWnr.369/1993,um    starfsemiogmarkaWssetninguerlendra_ verWbrfasj;Wa_ Ԁ0slandi,sbr.kvWi_ tilskipunar_ Ԁum    sameiginlegafjrfestingu.     0tilskipun2000/107/EBerkveWiWumaW_ rekstrarflag_ Ԁ_ verWbrfasj;Wa_ Ԁfiheimildtil wO  markaWssetningarEvr;pska_ efnahagssvWinu_ .UmYrheimildirgildakvWiV.kafla B  frumvarpsum_ fjrmlafyrirtki_ .EnguaWsWurgetur_ rekstrarflag_ Ԁekki_ markaWssett_ Ԁ_ hlut    deildarskrteini_ Ԁ_ verWbrfasj;Wa_ ԀnematilkynnaYaW_ lgbrum_ Ԁyfirvldum.     Um43.gr. nF   0greininnierkveWiWumhvernigerlendur_ verWbrfasj;Wur_ ԀmeWstaWfestuogstarfsleyfi 9 WrurkiinnanEvr;pska_ efnahagssvWisins_ ԀskuluberasigaWviWmarkaWssetningu_ skrteina_   sinnahrlandi.Upptalningggnum1.mgr.ertekinuppr2.gr.reglugerWarnr.  369/1993. r   Um44.gr. 0 0  GreininerbyggW34.gr.frumvarpstillagaum_ fjrmlafyrirtki_ .MeWkvWiYessueru  tekinaftvmliumYaWaW_ FjrmlaeftirlitiW_ ԀgetibrugWistviW_ st;rfelldum_ Ԁbrotumlggjf  um_ verWbrfasj;Wi_ ԀmeWYvaWleggjabannviWmarkaWssetninguerlends_ verWbrfasj;Ws_ Ԁhr i landi. \4   Um45.gr.    GreininYarfnastekkiskUringa.    UmII.kaflaH. S+! 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A&"+ VerWifrumvarpYettaaWlgumverWurs_ meginbreyting_ ԀaW_ verWbrfasj;Wur_ ԀverWurhluti  '", _ rekstrarflags_ ._ Rekstrarflag_ Ԁ_ verWbrfasj;Ws_ ԀverWur_ fjrmlafyrirtki_ ԀogsemslktverWurYaW '#- aWlta_ XI_ .kaflafrumvarpstillagaum_ fjrmlafyrirtki_ Ԁumrsreikninga,endurskoWunog (z$. _ samstWureikningsskil_ .XaWerYvekkiYrf_ jafntarlegum_ ԀkvWumYessufrumvarpium ( _ rsreikningaogrshlutareikninga.    VerWbrfasj;Wurmunekkiskilarsreikningiheldurrekstrarflag.Hinsvegarerrekstr  arflagiskyltaWsrgreinaupplUsingarumsrhverjadeildverWbrfasj;Wssnumreikn a ingsskilum.0viWaukameWtilskipunumsameiginlegafjrfestinguerkveWiWumhvaWa T, upplUsingarskulukomaframrsreikningumogrshlutareikningumverWbrfasj;Wa.Lagt  ertilaWYaukvWiverWisettreglugerW.    Um47.gr.  X   FyrirfjrfestaverWbrfasj;WiermikilvgtaWeigagreiWanaWgangaWupplUsingumsem K #  geraYeimkleiftaWmetakostifjrfestingarsj;Wnum.BtboWslUsingYj;narYeimtilgangi.    UmtboWslUsingarernfjallaW39.gr.laganr.10/1993.kvWiumtboWslUsingueru    tarlegriYessufrumvarpiogkemurYaWaWmestutilafauknumkrfumtilskipunum   sameiginlegafjrfestingu.MeginbreytinginersaWkrafisteraWrekstrarflggefijafnframt wO  ttdrttrtboWslUsingu(e.simplifiedprospectus)YarsemmeginatriWitboWslUsingareru B  dreginframauWskiljanleganhtt.stWanfyrirYessarikrfuersaWverWbrfasj;Wireru    gottsparnaWarformfyriralmenning.0flestumtilfellumhafaeinstaklingarsemfjrfesta   verWbrfasj;WumekkifaglegaYekkingueWareynsluafviWskiptumverWbrfamarkaWiog {  hafaekkifullnotafYvviWamiklaefnisemframkemurtboWslUsingu.ReiknaWermeWaW nF stutturtdrtturrtboWslUsingumunihentaalmenningibeturtilaWmetakostifjrfestingar 9 verWbrfasj;Wum.0reglugerWverWurkveWiWnnarumupplUsingarsemframskulukoma  tboWslUsinguogtdrttirtboWslUsingu.    Um48.gr. e=   0YessarigreinkomaframUmsarupplUsingarsemframskulukomatboWslUsingu.AW 0 mestuleytieruYaWupplUsingarumhttusemverWbrfasj;Wurtekurstarfsemisinni.  kvWiWerualltarlegogtakamiWaftilskipunumsameiginlegafjrfestingu.    &  Um49.gr. \4 H  GreininYarfnastekkiskUringa.'\TԀ '   Um50.gr.    TekjurrekstrarflagsafverWbrfasj;WastarfsemieruY;knanirsemYaWskilursrfyrir `  Yj;nustusna.X;knungeturveriWfst,hlutfallafeigneWamunurkaup-ogslugengi. S+! X;knuninhefurmikilhrifmgulegavxtunfjrfestisaffjrfestingusinniverWbrfa " sj;WiogYvmikilvgtaWhanngerisrgreinfyrirY;knunrekstrarflagsWurenhanntekur # kvrWunumfjrfestingusj;Wnum.  $   2.mgr.ersamrmiviWtilskipunumsameiginlegafjrfestingu. !W%   Um51.gr. #' ְ  GreinineraWhlutatilbyggW40.gr.laganr.10/1993.MikilvgteraWauglUsinga-og #( kynningarstarfsemisgreintmilliverWbrfasj;Waannarsvegarogfjrfestingarsj;Wahins $ ) vegar.VerWbrfasj;WireruruggarafjrfestingarformsemlUturstrangarireglum.Reiknam v%N!* meWaWflestumtilfellumverWifjrfestingarsj;Wirhttusknari.AfYessumskumerbrUnt A&"+ aWfjrfestarsj;WumgerisrgreinfyrirhverjumunurinnverWbrfasj;Wiogfjrfest  '", ingarsj;Wifelst.XaWerhlutverkrekstrarflagaaWsjtilYessaWviWskiptavinirsumeWvitaWir '#- umYennanmun. (z$. Ї  UmIII.kafla. ( V  Kaflinnfjallarumfjrfestingarsj;Wi.0llumrkjumEvr;pskaefnahagssvWisinsergert  rWfyriraWaWrartegundirsj;WaenverWbrfasj;WirgetifengiWstarfsleyfieWahlotiWviWur  kenningustj;rnvalda.AlmennareglanersaWheimildlgbrrayfirvaldaYarftilefsj;W a urinnmarkaWsseturskrteinisnhandaalmenningi. T,   0slandihefurfrrinu1999veriWunntaWfstarfsleyfifyrirsrstakategundverW  brfasj;WasemlUturvgarifjrfestingartakmrkunumenUCITS-sj;Wir.XrttfyrirYessa  viWb;terumguleikartilaWstofnaaWrasj;WienUCITS-sj;WimeWstarfsleyfihrlandi   minniheldurenalgengasterEvr;pskaefnahagssvWinu.MeWYeimbreytingumsemhr  X erulagWartilertluninaWbreytaYessuoggeralagalegtumhverfiverWbrfasj;Wafyllilega K #  samkeppnishft.      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Um53.gr. i x  Hlutdeildarskrteinifjrfestingarsj;Wumeruinnlausnarskyldlktoghlutdeildarskrteini \4 verWbrfasj;Wa.MunurinnliggurYvaWhlutdeildarskrteinifjrfestingarsj;WaeruekkitW ' innleysanlegaWkrfuviWskiptavinasj;Ws.XaWkemurtilafYvaWfjrfestingarstefnafjr  festingarsj;WageturveriWhttusm,t.d.httudreifingminnienverWbrfasj;Wumog  ;skrWverWbrfverWbrfasafnisj;Ws.:skrWverWbrferuekkieinsseljanlegogskrW `  verWbrf.XaWYj;narYvekkihagsmunumviWskiptavinasj;WsaWgetatWinnleysthlut S+! deildarskrteinisnfjrfestingarsj;Wi. "   Uminnlausnhlutdeildarskrteinafjrfestingarsj;Wsfersamkvmtreglumsj;Wsins. # Sj;WurinntekurkvrWunuminnlausnmeWhliWsj;nafhttustigiogseljanleikafjrmla  $ gerningasj;Wnum.EkkierlagWurtilsrstakurhmarkstmisemlWammilliinnlausna. !W% NauWsynlegterhinsvegaraWviWskiptavinirsj;WsinsgerisrgreinfyrirhvaWareglurgilda J""& uminnlausnogerYvrekstrarflagiskyltaWvekjaathygliviWskiptavinarYeimreglum. #'   Um2.!4.gr.gildasmusj;narmiWogum27.!28.gr.uminnlausnarskylduverWbrfa #( sj;Wum. $ )   Um54.gr. A&"+ D  Fjrfestingarheimildirfjrfestingarsj;WaerurUmrienverWbrfasj;Wa.XaWlUturaWallega  '", aWYvaWfjrfestingarsj;Wurgeturfjrfestmeiramli;skrWumverWbrfumogekkier '#- krafistjafnmikillarhttudreifingar.AWmeginstofnitilgildaY;kvWiII.kaflaFum (z$. fjrfestingarheimildirfjrfestingarsj;Wa.XarskiptamestumlikvWiumeftirlitskerfimeW ( httu,viWskiptimeWafleiWurogtakmarkanireignasafni.    LagtertilaWfjrfestingarsj;WumverWiheimiltaWfjrfesta;skrWumverWbrfumog  peningamarkaWsskjlum.XaWerYvhgtaWstofnablandaWasj;WiskrWraog;skrWraverW a brfaogeinnigsj;WisemfjrfestaaWallega;skrWumverWbrfum.Sj;WirsemfjrfestaaWal T, lega;skrWumverWbrfumerugjarnankallaWirhttufjrmagnssj;Wir(e.VentureCapital  Funds).    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X;svoaWfjrfestingslkumsj;WiseWlimlsinssamkvmtafarhttusmerhnY;engu   aWsWurmunminnienaffjrfestingueinstaka;skrWuflagi.Krafisterstarfsleyfisfyrir {  starfseminni,httudreifingar,YekkingarogreynsluogaWskilnaWarstarfssviWa.Xermikil nF vgtaWalmenningisgerWgreinfyrirYeirrihttusemfjrfestingunnifelst. 9   httufjrmagnergjarnanflokkaWeftirYvhvaWatilgangieWahvaWastigiYaWerlagt  fram.AfeWlilegumstWumerhttanmeirifyrstuYrepumYr;unar.Samkvmt  upplUsingumfrEuropeanVentureCapitalAssociationmflokkahttufjrmgnunvegna r nUskpunareftirfarandiflokkaeftirhttu: e= ! ! ;(eh88;"i0J"  i0J2eh  1  .3  Ԉ0    Xr;unarfjrmagneWahugmyndaf(e.SeedCapital).Fjrmagntilranns;knaogYr;unar 0 vrueWaviWskiptahugmynd.YessustigiervarlaummeiraaWrWaenvnlega  hugmyndogoftastfrumkvWul.FjrmagnYessustigiferaWallegagerWfrumtlana,  fyrstutilraunirviWvruYr;unogforknnunmarkaWa.i0J2݌i Ќ  "i0J"  i0J2eh  2  .3  Ԉ0    ByrjunarfjrmagneWaupphafsf(e.Start-up).TekurviWafYr;unarfjrmagni,t.d.tilaW \4 fullgerafrumeintakvruogtilaWhefjamarkaWsstarfsemi.i0J݌' Ќ  "i0J"  i0J2eh  3  .3  Ԉ0    FjrmagntilvaxtareWavaxtarf(e.Expansion).FjrmagntilaWtvkkastarfsemiaW  aflokinniYr;unogflunmarkaWa.i0JL݌ Ќ    0mjggr;fumdrttummgerarWfyriraWYessiYrjstiggetitekiWumtur,gangi `  hugmyndinupp,ogsfyrirtkiWYtilbiWtilskrningarhlutabrfamarkaWi.MiWaWerY S+! viWaWfyrstastigiWtakiumYrjr,nstastigumtvrogvaxtarstigiWumfimmr. 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'#- FjrfestingslkumverkefnumkallarumtalsverWaYolinmWi.GjarnanYarfaWbWa5!10 (z$. rYartilverkefniWskilararWi.YeimtmaYarffjrfestirinnaWverareiWubinntilaWauka ( viWupphafsfjrfestingusnasemogaWveitaaWstoWogrWgjf.Sfjrhagslegivinningur  semnstskilarsrsjaldanmeWreglulegumarWgreiWslumhelduroftasteinulagiviWslu.    HinmeginundantekninginfrII.kaflaFeraWstaWmeginreglufjrfestingarheimilda a verWbrfasj;WaumaWheimiltsaWfjrfestaalltaW10%verWbrfumogpeningamark T, aWsskjlumtgefnumafsamaaWilaerlagttilaWheimiltverWifyrirfjrfestingarsj;WiaW  fjrfestaalltaW20%eignasinnaverWbrfumogpeningamarkaWsskjlumtgefnumafsama  aWila.XaWerYvhgtaWstofnasj;WmeWaWlgmarkiverWbrfumeWapeningamarkaWs   skjlumfimmtgefenda.  X   Um55.gr.    Y  MikilvgteraWviWskiptavinirfjrfestingarsj;WagerisrfyrirframgreinfyrirYeirri    httusemfelstkaupumhlutdeildarskrteinumsj;WannaogerYvlagttilaWkveWiWverWi   skUrtumskyldurekstrarflagatilaWgreinaviWskiptavinumsnumfrhttunni. wO    Um56.!61.gr.      Fjrfestingarsj;Wirsemgefathlutabrf(hlutabrfasj;Wir)erulgaWilarogstarfsleyfis   skyldir,sbr.umfjllunalmennumathugasemdumogathugasemdumviW3.gr.kvWium {  veitinguogafturkllunstarfsleyfiseruaWmeginstofnitilsamrmiviWsambrilegkvWi nF lagaumfjrmlafyrirtki.X;erkveWiWumaWhlutabrfasj;WirskuliltatboWslUsingu 9 fylgjameWums;knumstarfsleyfiogjafnframtupplUsingarumvrslufyrirtki,enYaWerY;  ekkisettaWskilyrWifyrirstarfsleyfihlutabrfasj;WaaWsamningurhafiveriWgerWurviW  vrslufyrirtki.FjrmlaeftirlitiWskalskv.58.gr.takakvrWunumveitingueWasynjun r starfsleyfis&  einummnuWieftiraWfullbinums;knbarstentilvikifjrmlafyrirtkjaer e= tmafresturinnYrrmnuWir.'e 0   Um62.gr.    0greininnierfjallaWumstarfsemihlutabrfasj;Wa.XeirmegaekkiverablnduWum i rekstriogekkihafameWhndumaWrastarfsemienreksturfjrfestingarsj;Ws. \4   02.mgr.ersambrilegtkvWiog19.gr.enkvWi19.gr.gildirbWiumverW ' brfasj;Wiogfjrfestingarsj;Wisemgefathlutdeildarskrteini.    03.mgr.ersambrilegtkvWiog11.gr.og2.mgr.52.gr.Hlutabrfasj;Wumersem  hlutaflgumrttogskyltaWhafaorWiWhlutaflagheitisnueWaskammstfuninahf. `    04.mgr.ersambrilegtkvWiog26.gr.enkvWi26.gr.gildirbWiumverWbrfa S+! sj;Wiogfjrfestingarsj;Wisemgefathlutdeildarskrteini. "   05.mgr.erkveWiWumaWkvWiumtboWslUsingarogtdrttirtboWslUsingumskuli # gildaumhlutabrfasj;Wi.0reglugerWskalsWangeragreinfyrirYeimupplUsingumsemskulu  $ komaframtboWslUsingumogtdrttumrtboWslUsingumfjrfestingarsj;Wa.TeljaverWur !W% aWYrupplUsingarsemframkomatboWslUsingumsj;Wahentibeturfyrirstarfsemi J""& hlutabrfasj;WaenupplUsingarskrningar-ogtboWslUsingumalmennrahlutaflagasem #' skrhlutabrfsnskipulegumverWbrfamarkaWi.Xarsemhlutabrfasj;WirgetaveriWskrWir #( skipulegumverWbrfamarkaWiernauWsynlegtaWregluverkumtboWslUsingarogviWvar $ ) andiupplUsingaskylduskrWraflagatakimiWafYessu. v%N!*   06.mgr.kemurframhvaWaupplUsingarskuliverasamYykktumhlutabrfasj;Watil A&"+ viWb;tarviWkvWilagaumhlutaflg.VakinskalathygliYvaWekkierkrafistinn  '", lausnarskyldufyrirhlutabrfasj;Wi. '#-  (z$.   Um63.gr. 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T,   01.mgr.erkveWiWumrefsibyrgWfjrfestingarsj;Wasemreknirerusemhlutaflg.0  II.kaflaAalmennrahegningarlagaerkveWiWumrefsibyrgWlgaWila.Skv.19.gr.a  almennrahegningarlaga,nr.19/1940,verWurlgaWilagerWsekteflgmlasvofyrir.Skv.   19.gr.calmennrahegningarlaga,nr.19/1940,errefsibyrgWlgaWilabundinYvskilyrWi,  X nemaannaWstekiWframlgum,aWfyrirsvarsmaWurlgaWilans,starfsmaWurhanseWaannar K #  hansvegumhafimeWsaknmumhttiunniWrefsinmanog;lgmtanverknaWstarf    semilgaWilans.VerWurlgaWilagerWrefsingY;aWekkiverWistaWreynthverYessaraaWila    hafitthlut.EkkiertalinYrfaWmlaannanhttfyrirfrumvarpiYessu.     02.mgr.erkvWiumtilraunoghlutdeildsemYarfnastekkiskUringa. wO    03.mgr.erkveWiWumaWbrotgegnfrumvarpinuvarWirefsingu,;hWYvhvortYaueru B  framinafsetningieWagleysi.EkkiertalinstWatilaWvkjafrYeirrimeginreglulagaaW    brotgegnsrlgumvarWirefsingu,;hWYvhvortYaWerframiWafsetningieWagleysi,sbr.   gagnlyktunfr18.gr.almennrahegningarlaga,nr.19/1940.XvergertrWfyriraWbrot {  gegnkvWumfrumvarpsYessaverWirefsiverW,hvortsemYaueruframinafsetningieWa nF gleysi.SaknmisstigiWhafihinsvegarhrifrefsikvrWun.KveWiWerumregluYessa 9 frumvarpstextanumtilYessaWtryggjasamrmiviWfrumvarptillagaumfjrmlafyrirtki  ogfrumvarptillagaumverWbrfaviWskiptisemlgWhafaveriWframyfirstandandiYingi.    &  Samkvmt4.mgr.skalsksamkvmtkvWumkaflansfyrnastfimmrum.Skv.1. r tlul.1.mgr.81.gr.almennra'Ԁhegningarlaganr.19/1940skalskfyrnasttveimurrum, e= YegarekkiliggurYyngrirefsingviWbrotieneinsrsfangelsieWarefsings,semtilerunniW, 0 ferekkiframrsektum.Skv.4.mgr.81.gr.almennrahegningarlagaerfyrningarfrestur  vegnarefsibyrgWarlgaWilahinsvegarfimmr.TaliWerskynsamlegtaWmlafyrirumaW  refsibrotsamkvmtfrumvarpiYessufyrnistllumtilvikumfimmrum,YarsemYau i komaoftekkilj;sfyrrenaWnokkrumtmaliWnumogranns;knYeirraertmafrek. \4   Um71.og72.gr.    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