1. To promulgate such rules and regulations and to issue such orders as may in the judgment of the Commission be necessary to accomplish in full the purposes of this chapter, which shall have the force and effect of law and the violation thereof shall be punishable as a Class 1 misdemeanor;

2. To appoint and employ such officers and personnel as in its judgment may be required to carry out the provisions of this chapter and to remove, in its discretion, any and all persons serving thereunder, and to fix, subject to approval by the Governor, the remuneration of all such officers and other personnel. Such personnel shall work subject to such safety provisions as are in force on the property at time of acquisition;

3. To acquire under the power of eminent domain, or by purchase, lease or otherwise, all the property of any person used in the business of mining, production and marketing coal, including all lands, tipples, mines, ores, rights-of-way, leaseholds, and every character and type of equipment deemed by the Commission necessary and incidental to the continuous mining and production of coal; and

4. To operate, manage and control any such properties so acquired; to purchase coal, coke and other fuel and to sell the same, either at retail or at wholesale; to enter into contracts; to allocate and provide for the distribution of coal and other fuels so as to assure distribution deemed most likely to promote the welfare, health and safety of the people of Virginia; and to do any and all things necessary and incident to the mining, production and marketing of coal.