For section 36 of the Principal Act substitute —
A rail transport operator must not carry out railway operations unless the rail transport operator—
(a) is accredited under this Part in respect of those operations; or
(b) holds an exemption granted under Division 5A; or
(c) is exempted by the regulations from the requirement to be accredited under this Part.
Penalty: In the case of a natural person, $150 000;
In the case of a body corporate, $1 500 000.".