(1) The powers and duties conferred by this chapter shall be exercised by the Department and shall be deemed to be an essential governmental function in the exercise of the police power of the territory. The Department may call upon any other department or agency for consultative services and technical advice and the said agencies are directed to cooperate in said request.
(2) The powers and duties of the Department under this chapter shall extend to the boundaries of the territory described in section 2 of the Revised Organic Act of the United States Virgin Islands.
(3) Licenses required under this chapter shall be issued from the Department subject to such terms and conditions as are set forth in this chapter and as set forth in rules and regulations promulgated by the department as authorized herein.
(4) Whenever it becomes necessary for the territory to protect the public interest under this chapter, it shall be the duty of the Department to keep an accurate record of costs and expenses incurred and thereafter diligently to pursue the recovery of any sums so incurred from the Government of the United States under any applicable federal act.