Apparently the new proposal permits property owners to decide what goes on their walls. According to the Daily Telegraph online there are limitations including that 'the art is not advertising, does not discriminate, is not sexually degrading, and does not infringe intellectual property rights'.
Source:Heather McNab, CENtRAL Sydney declared a street art free-for-all as approval process dismantled' The Daily Telegraph. February 28, 2017 9:00pm