Ann: ASX Update on status of ASX Directions, page-414

I think ASIC involvement is is not about the performance shares. According to ASX they believe ISX have broken listing rules.

So hypothetically ASIC could find nothing and those listing issues still exist.

Also ASIC could find something and the owners of those shares would face prosecution but the listing rules were sorted and ISX could relist.

They are related and intertwined but I don't believe they both have to be ticked off for things to go back to normal.

Could be very wrong though. I'm not an expert