(1) The Corporation may make regulations not inconsistent with the provisions of this Act and rules made thereunder, to provide for all matters for which provision is necessary or expedient for the purpose of giving effect to the provisions of this Act.
(2) In particular and without prejudice to the generality of the foregoing power, such regulations, may provide for all or any of the following matters, namely:-
(a) the time and place of meetings of the Corporation and the procedure to be followed in relation to such meetings including the quorum necessary for the transaction of business;
(b) the duties which the managing director shall perform;
(c) the duties, conduct, salaries, allowances and conditions of service of officers and other employees of the Corporation;
(d) the delegation of powers and functions to the officers and other employees of the Corporation;
(e) the establishment and maintenance of provident and other benefit funds for the officers and employees of the Corporation;
(f) any other matter which is, or may be, necessary for the efficient conduct of the affairs of the corporation.