The following conditions shall govern the issuance of a special certificate authorizing the employment of student workers as learners by an educational institution at subminimum wage rates:

(1) The employment of the student workers at subminimum wages authorized by the certificate must be necessary to prevent curtailment of opportunities for employment in a specified educational institution.

(2) The issuance of the student worker certificate will not tend to create unfair competitive labor cost advantages nor have the effect of impairing or depressing wage or working standards established for experienced workers for work of a like or comparable character in the industry or community.

(3) The occupations to be filled by the student workers shall not be in the production of goods or services which would be sold in competition with privately owned businesses, nor in enterprises operated by the educational institution in competition with privately owned businesses.

(4) There have been no serious outstanding violations of the provisions of a student workers certificate previously issued to the educational institution, nor have there been any serious violations of the act which provide reasonable grounds to conclude that the terms of a student worker certificate may not be complied with, if issued.