Final answer:
The MREC has the authority to adopt and establish laws and regulations necessary for conducting business and for enforcement and administration of these statutes.
Step-by-step explanation:
The subject of this question is Law. The question is referring to the authority of the MREC to adopt and establish laws and regulations necessary for conducting business and enforcing and administering relevant statutes. The MREC has the power to enact, constitute, and frame laws, ordinances, acts, constitutions, and offices as needed.