CFR > Title 49 - Transportation > SUBTITLE B—Other Regulations Relating to Transportation > CHAPTER X—SURFACE TRANSPORTATION BOARD, DEPARTMENT OF TRANSPORTATION (Parts 1000-1019–1332) > SUBCHAPTER B—RULES OF PRACTICE (Parts 1100-1129–1187) > PART 1150—CERTIFICATE TO CONSTRUCT, ACQUIRE, OR OPERATE RAILROAD LINES > SUBPART E—Exempt Transactions Under 49 U.S.C. 10902 for Class III Rail Carriers (§1150.41 to §1150.45) > 1150.41—Scope of exemption.

1150.41—Scope of exemption.

Except as indicated in paragraphs (a) through (d) of this section, this exemption applies to acquisitions or operations by Class III rail carriers under section 10902. This exemption also includes:
(a) Acquisition by a Class III rail carrier of rail property that would be operated by a third party;
(b) Operation by a Class III carrier of rail property acquired by a third party;
(c) A change in operators on such a line; and
(d) Acquisition of incidental trackage rights. Incidental trackage rights include the grant of trackage rights by the seller, or the acquisition of trackage rights to operate over the line of a third party, that occurs at the time of the purchase.