167. The Chairman may, subject to the control of the Kartripakkha,- (a) institute, defend or withdraw from, legal proceedings under this Act or any ¹[rule or regulation] made hereunder; (b) compound any offence against this Act or any ²[rule or regulation] made hereunder which, under any law for the time being in force, may lawfully be compounded; (c) admit, compromise or withdraw any claim made under this Act or any ³[rule or regulation] made hereunder; and (d) obtain such legal advice and assistance as he may from time to time think it necessary or expedient to obtain, or as he may be desired by the Kartripakkha to obtain, for any of the purposes referred to in the foregoing clauses of this section, or for securing the lawful exercise or discharge of any power or duty vested in or imposed upon the Kartripakkha or any employee of the Kartripakkha.