This comes from a set of Weinmann Type 370 calliper brakes. The two nuts you see are normally firmly located inside the plastic hood, not as they are shown.
I think they are intended to function as some sort of self-locking/clutch system, so that the nuts don't work their way off, while still not preventing the callipers from moving.
In this particular case, I am not satisfied that the nuts are securing the callipers on the bolt as tightly as they should be. As I rotate the plastic hood, the nuts move down the bolt, but then further rotation doesn't tighten mechanism; the hood just rotates over the nuts instead of rotating them.
How is this actually supposed to work?
http://www.classiclightweights.co.uk/components/weinmann-components.html says:
In the late '70s or early 1980s the domed centrebolt on the standard side-pull calipers was replaced by a plastic cover over two plain steel locknuts. These brakes were centred using an inverted allen key tool.
but that doesn't shed any light on the how the two-locknuts-in-a-plastic-hood arrangement is supposed to work.