Subject to the provisions of this Act, the Department shall exercise the following functions, powers, and duties:
         (1) Prescribe rules defining what constitutes an
    
approved school, college, or department of a university, except that no school, college, or department of a university that refuses admittance to applicants solely on account of race, color, creed, sex, or national origin shall be approved.
        (2) Conduct hearings on proceedings to revoke,
    
suspend, or refuse to issue licenses.
        (3) Promulgate rules required for the administration
    
of this Act.

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