Exploitation of bioresources of a nation by multinational companies without authorization from the concerned country is referred to as

The aims and objectives of the Genetic Engineering Approval Committee $(GEAC)$ are:
$I$. To permit the use of genetically modified organisms and their products for commercial applications.
$II$. To adopt the procedures for restriction,production,and application of $GM$ organisms.
$III$. Approval to conduct large-scale field trials and release of transgenic crops into the environment.
Which of the statements given above are correct?

Use of biological resources of other countries without any legal authorization of the countries concerned is called

Some multinational companies have exploited the traditional knowledge of the indigenous people to produce commercially important bioproducts,without their consent. This is an example of:

Explain Biopiracy.

What is $GEAC$? Give its function.