The Primary Objectives of the Puffing Billy Preservation Society are:
- To ensure the continued preservation and operation of the historic narrow gauge steam railway between Belgrave and Gembrook popularly known as Puffing Billy.
- To maintain as far as possible the historic integrity of the Railway and other conservation and scenic values of the Puffing Billy Corridor from Belgrave to Gembrook.
- To support in every possible way the Emerald Tourist Railway Board in its preservation and operation of the Railway.
To achieve these primary objectives the Society endeavours to maintain a membership of sufficient size and expertise from which to:
- Provide from its executive committee four members of appropriate competence and standing to serve on the ETRB,
- Provide sufficient members of appropriate skill and experience to serve the Board in a management capacity,
- Provide sufficient volunteers in all the categories required to maintain the economic viability of the railway,
- To act as a fund raising base for relevant projects which fall outside the Board's charter or priorities.
In 1975, the P.B.P.S. Executive Committee adopted the 1900-1930 period as the Railway's Era of Significance (EoS) which would, in time, determine the way the railway would be presented in appearance and "feel" or culture. This has subsequently been adopted as policy by the E.T.R.B. and has been progressively implemented over ensuing years.
This means that not only are the locos and rolling stock being restored to represent periods within the EoS, but much more than that; all infrastructure including buildings, signalling, fencing and signage, plus uniforms, platform furniture, even practices and general railway "culture" is and will progressively be made to conform where safety and practicality allow.