14   Review of safety management system

A rail transport operator must review the rail transport operator’s safety management system in accordance with the regulations:

(a)  at such times or within such periods as are prescribed by the regulations, or

(b)  if no times or periods are so prescribed, at least once each calendar year or at such other times or within such other periods as are agreed between the rail transport operator and the ITSRR.

Maximum penalty:

(a)  in the case of a corporation—300 penalty units, or

(b)  in the case of an individual—150 penalty units.