Yeah try 50% and see disgruntled employees of those companies who loss their bonus and see their pay get cut vote for the opposition next GE. No political party is that stupid, not even the opposition. Yes the govt can freeze fare adjustments, the operators can also take measures to cut cost, like reducing bus frequency etc. Since they are going to be fine that amount anyway as long as they can ensure they cut enough cost to cover the max penalties, it's fine with them. Board of directors will feel nothing it's just the consumers and their employees who gets hit.