Section 1150.31 - Scope of exemption(a) Except as indicated below, this exemption applies to all acquisitions and operations under section 10901 (See 1150.1, supra). This exemption also includes:(1) Acquisition by a noncarrier of rail property that would be operated by a third party;(2) Operation by a new carrier of rail property acquired by a third party;(3) A change in operators on the line; and(4) Acquisition of incidental trackage rights. Incidental trackage rights include the grant of trackage rights by the seller, or the assignment of trackage rights to operate over the line of a third party that occur at the time of the exempt acquisition or operation. This exemption does not apply when a class I railroad abandons a line and another class I railroad then acquires the line in a proposal that would result in a major market extension as defined at § 1180.3(c) .(b) Other exemptions that may be relevant to a proposal under this subpart are the exemption for control at § 1180.2(d)(1) and (2) , and the exemption from securities regulation at 49 CFR part 1177.51 FR 2504, Jan. 17, 1986, as amended at 81 FR 8855 , Feb. 23, 2016