The basic ASIC register (ie the list or ACNs with names) is already available via data.gov.au. There is a richer data set that is still public data but it is only available for purchase from ASIC. This includes company structure, ownership, relationships to other entities, registration certificates, documents lodged with ASIC, and history of changes. It seems to be a false economy to charge for this data, effectively hiding it from widespread analysis and value add. Other governments such as NZ have taken the approach of making it freely available - see http://www.business.govt.nz/companies/app/ui/pages/companies/1133431 for example. The value to the Australian Economy as a means to reduce risk in business dealings, to increase capital market transparency and investment opportunities, and so on will almost certainly vastly exceed the revenue opportunities for ASIC.
Idea No. 165