The new licensing arrangements mean that all LH providers in...

The new licensing arrangements mean that all LH providers in Victoria will need to be licensed to operate from the end of this month. ASH have submitted a number of license applications for their Action Workforce and Concept Engineering brands, however I cannot see from the website (https://labourhireauthority.vic.gov.au) that any have been approved yet. However, to put this in context, there are more than 1700 applications still to be considered by the govt, and only 123 have been approved so far. This is typical of a govt process, and I suspect that operators will continue to trade as usual until their applications are processed.
More broadly, I think that increased regulations are a benefit for larger operators like ASH, as smaller operators may find the additional compliance requirements/cost difficult to manage, and dodgy operators will hopefully disappear from the industry.
On another note, given the share price is now at 32c, I'll shift my view back to a buy given the risks here are increasingly weighted to the upside.