10 PM Current Affairs Quiz : October 22, 2018

The UNCITRAL Model Law has been adopted in as many as 44 countries and, therefore, forms part of international best practices in dealing with cross border insolvency issues.

The purpose of this Law is to provide effective mechanisms for dealing with cases of cross-border insolvency so as to promote the objectives of:

(a) Cooperation between the courts and other competent authorities of this State and foreign States involved in cases of cross-border insolvency;

(b) Greater legal certainty for trade and investment;

(c) Fair and efficient administration of cross-border insolvencies that protects the interests of all creditors and other interested persons, including the debtor;

(d) Protection and maximization of the value of the debtor’s assets; and

(e) Facilitation of the rescue of financially troubled businesses, thereby protecting investment and preserving employment.

The Antiquities and Art Treasures Act, 1972 was enacted with an objective to control the export business in the treasures of antiquities and sculptures, to necessarily acquire antiquities and sculpture for conservation, avoid smuggling and fraudulent commercial activities in the antiques.

• The Act makes it unlawful except the Central Government or the authorized person to export the objects that are historic or art treasure.
• The central government is authorised to appoint a licencing officer who grants licences to persons who wish to carry on commercial of antiquitie. So the private connoisseurship, individual collectors, trusts and foundations are not included within the legal process of buying and governing antiques.
• The Central Government shall also forcibly get hold of the antiquities if it considers essential by recompensing the owner.

The GCF was established at the Sixteenth Conference of the United Nations Framework Convention on Climate Change (UNFCCC) in 2010. The headquarters of its secretariat is located in Songdo, Incheon, Seoul, South Korea Republic.

• It channels taxpayer funds from rich countries, including the US, the UK, further EU member states and others, to developing countries that would otherwise struggle to invest in low-emissions technology, infrastructure and is considered a key vehicle for climate-related development programmes.
• The GCF is governed by a Board of 24 members representing developed and developing countries equally.
• It has recently approved more than $1 billion in new investments to tackle climate change after meeting in Manama-Kingdom of Bahrain.

KAZIND is a Joint Army Exercise between India and Kazakhstan. KAZIND 2018 was held at the Otar Mil Area, Kazakhstan from September 10th to September 23rd. The aim of the exercise is to build and promote bilateral Army to Army relations and exchange skills and experiences between Kazakhstan Army and the Indian Army.

Thus, statement 1 is correct. However, statement 2 is incorrect as it is a joint army exercise and does not include navy. The correct answer is therefore option a.

NCLP focuses on all child workers below the age of 14 years in the identified target area, adolescent workers below the age of 18 years in the target area engaged in hazardous occupations / processes. Additionally, it also focuses on family members of child workers

NCLP also seeks to create Child Labour Monitoring, Tracking and Reporting System

Therefore, both statement 1 and 2 is correct. Correct answer is option c

The Intermediate-range Nuclear Forces (INF) Treaty  is a bilateral treaty signed by the US and the USSR in 1987.

• It is a crucial Cold War-era treaty banning the development, testing and possession of short and medium range ground-launched nuclear missiles, except sea-launched weapons, with a range of 500-5,000 km.
• This treaty, signed in 1987, was central to ending the arms race between the two superpowers, and protected America’s NATO allies in Europe from Soviet missile attacks.