Cells of nervous tissue. Nervous tissue is the main component of the two parts of the nervous system; the brain and spinal cord of the central nervous system (CNS), and the branching peripheral nerves of the peripheral nervous system (PNS), which regulates and controls bodily functions and activity.ells of nervous tissue. Nervous tissue is the main component of the two parts of the nervous system; the brain and spinal cord of the central nervous system (CNS), and the branching peripheral nerves of the peripheral nervous system (PNS), which regulates and controls bodily functions and activity.