Asx defence, page-16

The statement of reasons has always been a view because the creation of it relied on information given by ISX. The ASX can not control the accuracy or the completeness of the information, because that depends on ISX. Imagine a scenario, for example, where ISX gave completely false information to the ASX. That would lead to a completely different "view" and thus a vastly different statement of reasons altogether. That dependency on information provided by a third party with full conflict of interest is why the statement of reasons is an expression of view or though process. Understand?