The director may make and promulgate such rules and regulations as may be necessary to effectuate the provisions and intent of this act, in accordance with the provisions of Act No. 88 of the Public Acts of 1943, as amended, being section 24.71 to 24.80 of the Compiled Laws of 1948, and subject to Act No. 197 of the Public Acts of 1952, as amended, being section 24.101 to 24.110 of the Compiled Laws of 1948.