Dineen ... this might be the paper inquiry you’re thinking of https://www.cfr.gov.au/publications/consultations/2019/consultation-on-financial-market-infrastructure-regulatory-reforms/pdf/fmi-consultation-nov-2019.pdf
Under the current legislation ASIC regulates the ASX but some powers still reside with the minister. You can see the effect of this in the way ISX has drafted their statement of claim. The CFR paper recommends cleaning this up and delegating the Ministers powers to ASIC.
submissions can be made until 20/12.
ironically, if these recommendations were already actioned I believe ISX could have appealed to ASIC before resorting to the court.