Section 50. The division shall have the power to license all terminals in the commonwealth for the loading or discharge of petroleum products from vessels, and may issue reasonable rules and regulations in connection therewith for the purposes of protecting the public safety and for preventing the spilling of the liquids into the waters of the commonwealth.
The division shall inspect periodically hoses, gaskets, tanks, pipelines and other equipment to make certain that they are in good operating condition, and may order the renewal of any of such equipment found unfit for further use.
The division may require by rules and regulations that suitable equipment be readily available to remove from the waters of the commonwealth any petroleum or chemical liquids spilled or discharged therein.
The division may require the payment of reasonable fees, designed to cover the costs incurred by the above inspections and its other duties.