(1) issue, revoke or suspend licenses under this subchapter;
(2) determine whether any medical school is entitled to recognition under the provisions of this subchapter as a medical school of good standing; and
(3) adopt, amend, and repeal rules and regulations and bylaws, not inconsistent with the provisions of this subchapter, and in accordance with generally accepted medical standards, relating to the organization and operation of the Board, and the licensing and registration of practitioners under this subchapter, upon finding that such are necessary for the furtherance of the provisions of this subchapter, which rules, regulations, or bylaws, when approved by the Governor, shall be deemed to be a part of and of the same effect as this subchapter.