(a) No individual shall be approved by the Administrator for admission to a training program unless the Administrator finds in accordance with regulations prescribed by him, that:
(1) Suitable employment opportunities for the individual are or may be substantially limited because:
(i) The individual lacks skills needed to obtain suitable fulltime employment, or
(ii) Existing or prospective conditions in the market, technological change, plant closing or removal, discontinuance of specific plant operations, the seasonal nature of the industry or other factors reduce or limit employment opportunities for the individual in his present occupation or skill; and
(2) The individual has the required qualifications and aptitude to complete the program successfully.
(b) In the cases of eligible persons between 16 and 21 years of age, the Administration shall seek to place such persons in an approved training program whenever possible, although persons within this age group shall be eligible for all the benefits provided by this chapter. Eligible persons over 21 years of age shall be placed in regular employment positions whenever possible.