(b) The provisions of sections two, three and seven of this article do not apply to a child's employment under a supervision permit issued by the commissioner under this section. The commissioner shall issue a supervision permit only if he or she finds, after careful investigation, as follows:
(1) That the child, in performance of the work contemplated, will be supervised by a responsible party;
(2) That the employer for whom the child will be employed is not subject to federal regulation regarding child labor; and
(3) That the issuance of the supervision permit will promote the best interests of the child.
A supervision permit is valid only so long as the employment is in compliance with the terms and conditions prescribed by the commissioner and contained therein.