Bylaws § 7 (5):
Indeed this statement is binding. Those rulings are restricted by national + EU law, the Bylaws and General Regulations, respectively by the defined responsibilities/duties/tasks of both bodies therein. To avoid future distractions, General Regulations very well may be more precise about councils' functions than they're today (as already discussed here, since 2 months).

Bylaws give the structure, General Regulations organise Community life.
If council stays an entity of MC eV, only General Regulations may need adoption, depending on what exactly the referendum or insights from this thread will bring up.
If council gets disbanded or decides to part to outlaw land, bylaws have to be amanded which needs court approval, costs a fee of probably 20-50€ and takes 2-8 weeks to get through. General Regulations also would need adoption since major parts otherwise would be redundant or not within byaws.

Whatever this referendum will bring up, I'm convinced noone of the 'elitist' regular members will prevent it from beeing carried into effect by GA, which either way would be required, according to MC eV Bylaws (EDIT: unless Council election rules only are changed; that's what a 'regular' referendum can do without anybody approving it.)