(a) No commercial driver training school shall be established nor any such existing school continued after January 1, 1969, unless such school applies for and obtains from the Secretary a license in the manner and form prescribed by the Secretary.
(b) Regulations adopted by the Secretary shall state the requirements for a school license, including requirements concerning location, equipment, courses of instruction, instructors, previous records of the school and instructors, financial statements, schedule of fees and charges, character and reputation of the operators and instructors, insurance in such sum and with such provisions as the Secretary deems necessary to protect adequately the interests of the public and such other matters as the Secretary may prescribe for the protection of the public.