Well it depends upon what you mean by "discipline". My experience and observation is that these organisations are as much about personalities and egos and strong opinions and factions and pettiness and vindictiveness as they are about the objective interests of the people 'regulated' and safety. A lot like CASA, really.
If the 'discipline' is objectively necessary and proportionate to some risk, confirmed by external merits review if the person subject to it chooses to seek a review, that's fine. The folks who aren't amenable to that kind of discipline are going to smear themselves across a hillside in any event. And I doubt whether they'd be able to convince CASA that the proposed new organisation has the competence and capacity to join the cosy symbiosis.