The Act provided for the vesting in the Commission, from 1 July 1942, of the ownership of all coal (and certain, i.e. some, associated minerals and rights).
Subject to the provisions of the Act, the Commissioners were charged to exercise their functions as owners "in such manner as they may think best for promoting the interests, efficiency and better organisation of the coal-mining industry."
The aggregate amount of compensation to be payable by the Commission for coal and coal-rights was fixed by the Act at £66,450,000, with additional sums for other associated property and rights.
The Commissioners were charged with duties of promoting amalgamations of colliery-undertakings in any area in which they considered the number of separate undertakings to be so great as to be detrimental to the efficient working, treating or disposing of coal.
The chairman of the Commission was Sir Ernest Gowers and the secretary and controller was Christopher Hurst.