4. The Association may make, amend or repeal by-laws respecting(a) its internal management;
(b) the upholding of the honour, dignity and discipline of the profession of insurance broker, of the Association and of its members and particularly the definition of acts deemed derogatory to the honour, dignity or discipline of the profession and the penalties which may be imposed;
(c) the determination of the conditions of admission, suspension, expulsion and readmission of members of the Association; and
(d) any other matter which this act empowers it to regulate.