Don't the normal "Conditions of Carriage" apply for RBB's - i.e. you must have a valid ticket?
National Conditions of Carriage apply as do byelaws, so you must have a valid ticket if boarding at a staffed station, I agree. However, the penalty fare rules are additional to the aforementioned. Clause 4.1 of the penalty fare rules states:
"These warning notices must be in line with rule 4.3,
and must be displayed so that at least one notice can be clearly
seen by any passenger joining any penalty fares train or
changing onto a penalty fares train from any other train"
https://www.ircas.co.uk/docs/SRA - Penalty Fare Rules 2002.pdf
Thus I would say that no penalty fare should be charged if no sign is visible for passengers boarding a replacement bus.
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Using my phone at the moment so can't check, but don't they penalty fares rules specifically use the word 'train' and 'station'? Would they be enforceable on a bus?
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Section 2 of the Penalty Fare Rules is titled 'Definitions'. It does not seem to include a definition of a train, but defines:
"Penalty fares train means a train for which penalty fares
may be charged, in line with an approved penalty fares
scheme and with these rules, to passengers without a valid
ticket who have boarded at a penalty fares station."
https://www.ircas.co.uk/docs/SRA - Penalty Fare Rules 2002.pdf
I don't see that a replacement bus is covered by this definition. The byelaws do define a train though:
"
train
means any item of rolling stock and includes any carriage, wagon or locomotive; "
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/4202/railway-byelaws.pdf
This also wouldn't seem to cover replacement buses.
I don't know the position with the RoRA.