Section 36: Power of Board to make rules and bye-laws

(1) The Board may make rules or bye-laws, not inconsistent with this Act or any regulations made thereunder, for the general and efficient conduct of the business of the Corporation as an insurer, and without prejudice to the generality of the power so conferred, rules or bye-laws may-
(a) prescribe the manner and conditions subject to which the Corporation may enter into reinsurance contracts;
(b) prescribe premium and commission rates, terms and conditions, to be offered by the Corporation in connection with insurance or reinsurance business.
(2) Where rules or bye-laws are made pursuant to subsection (1) of this section, it shall not be necessary for their validity to cause them to be published in the Federal Gazette, but the Board shall bring them to the notice of such interested persons (including officers and servants of the Corporation) as the Board may, from time to time, determine.