Section 3: Powers of the Institute.

The Institute has power to do all things necessary and convenient to be done in connection with the performance of its functions and in particular, may —(a) enter into contracts;
(b) charge fees for its services;
(c) make regulations for the conferment of charter;
(d) make penal regulations; and
(e) have the power to award honorary membership of the Institute to persons it deems worthy of such honour on terms and conditions prescribed by the Council and approved by the Institute in a general meeting.