16. Powers to frame bye-laws:
(1) Each Corporation may frame its bye-laws in order to accomplish the objectives of this Act and manage its acts and actions.
(2) Without prejudice to the generality of the powers conferred by sub-section
(1), such Corporation may frame bye-laws on the following matters, in particular:
(a) Acts to be done by the Corporation, and manner for doing such acts,
(b) The manner of and procedures for performing the business of the Board of Directors,
(c) Matters relating to branches or sub-branches of the Corporation,
(d) Appointment, promotion, facilities, discipline and other terms of service of the employees of the Corporation,
(e) Operation of the fund of the Corporation,
(f) The procedures for and power to make contract or agreement to be made on behalf of the Corporation,
(g) Procedures for using the seal of the Corporation,
(h) Such other matters as may be necessary to carry out its activities by the Corporation in a systematic manner.