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Explain the elements of governmental authority
The theme of these draft laws is mentioned in Article 1, which says that every internationally wrongful act of a State entails the international responsibility of that State. Then an act of a state under international law is defined in Article 4, 5 8 and 11. Article 4 says that any conduct of organs of the state or of persons working officially in these organs is an act of a state; article 5 states it is the conduct of persons or entities that though are not working in official capacity but are empowered by the government to exercise the elements of governmental authority; article 8 declares that an act of state is the conduct of a person of group of persons who are acting on the instructions of the state; lastly section 11 says that a conduct which is not attributable to a State under the proceeding articles shall nevertheless be considered an act of that State under international law if and to the extent that the State acknowledges and adopts the conduct in question as its own.
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Question 1: a) Explain the four principles of effective financial regulations. b) Describe briefly the various regulatory tools used to achieve objectives of financ
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