(1) The Council may make statutes to carry into effect the objects of the Institute.

(2) Without limiting the scope of subsection (1), the Council may make statutes

(a) to regulate the appointment, conditions of service, termination of appointment and retirement benefits of the staff of the Institute,

(b) to determine the persons who are authorized to enter into transactions, sign documents, negotiable instruments and contracts on behalf of the Institute;

(c) for procedures to discipline students and staff of the Institute;

(d) for procedures for assessment and the award of degrees, diplomas and certificates of the Institute; and

(e) to oversee the award of bursaries and scholarship.