A local apprenticeship committee may be appointed in any trade or group of trades in a city or trade area, by the Apprenticeship Council, whenever the apprentice training needs of such trade or group of trades justifies such establishment. Such local apprenticeship committee shall be composed of an equal number of employer and employee representatives. The function of a local apprenticeship committee shall be: To cooperate with school authorities in regard to the education of apprentices; in accordance with the standards set up by the apprenticeship committee for the same trade or group of trades, where such committee has been appointed, to work in an advisory capacity with employers and employees in matters regarding schedule of operations, application of wage rates, and working conditions for apprentices and to specify the number of apprentices which shall be employed locally in the trade under apprentice agreements under this chapter; and to adjust apprenticeship disputes, subject to the approval of the Apprenticeship Council. The local apprenticeship committee shall have authority to transfer, place, accept or reject apprentices as in its judgment will promote the best interest of the apprentice training program herein authorized.