(1) The Supervisory Authority shall do all things necessary and reasonable to further its objects.
(2) Without limiting its responsibilities under subsection (1), the functions of the Supervisory Authority are as follows:
(a) to grant recognition to bodies of accountants for the purposes of section 187 of the Act of 1990;
(b) to attach under section 192 of the Act of 1990 terms and conditions to the recognition of bodies of accountants, including terms and conditions -
(i) requiring changes to and the approval by the Supervisory Authority of their regulatory plans, and
(ii) requiring their annual reports to the Supervisory Authority on their regulatory plans to be prepared in the manner and form directed by the Supervisory Authority;
(c) to require changes to and to approve -
(i) the constitution and bye-laws of each prescribed accountancy body, including its investigation and disciplinary procedures and its standards, and
(ii) any amendments to the approved constitution or bye-la