Subject to the provisions of the Act and the rules and regulations of the Commission thereunder, and other applicable law, the Board shall have the power to determine all matters relating to the operation and administration of the Board and to exercise all other rights and powers granted by the Act and other applicable law to the Board.  Notwithstanding anything to the contrary in the Board's rules or By-laws, no delegation will derogate from Board powers under the Act or other applicable law.