Sidonicus, Not so fast, here's a reference to information obtained under an FOI request;
"In a letter addressed to Prime Minister Anthony Albanese in June seeking approval for the bill, Ms Rowland wrote: “The Minister for Communications is able to request the ACMA to investigate matters under the Broadcasting Services Act 1992 and to give general directions under the Australian Communications and Media Authority Act 2005"
So the minister can give directions about who and what is investigated, it's a very broad power. Don't get on the wrong side of the Minister for Truth. Who decides what is Truth, was the Uluru statement 1 page or 26?
