Matt,
From what I remember at the various consultative meetings, there was a suggested option of annual checking for all ASIC holders and an increase in validity out to 5 years.
Don't quote me but and example of one way this would possibly work is:
ASIC application and card issue $190.00
Security screening for next 4 years @ $88.00 ea = $352.00
Total cost of card for 5 years $542.00
Currently ASIC costs $180 - $190 for 2 years so 5 years worth would be $450 - $475. Still cheaper this way but the department wants to give holders the five year option.
This wasn't mentioned in the White Paper so maybe they are just going to increase the frequency for the screening officers.