I believe the police airwing pilots are also sworn police officers for the purpose of moving evidence around Qld and carrying prisoners. Could be a stumbling block. Also if it is commercialised, Part 48 would rear its ugly head.
As for the Premiers airwing, Part 48 would be a factor in doing organ retrievals and ministerial flights. Away all day with a Minister in NW Qld and you get a call out late at night to get back to BN so the aircraft and do an organ retrieval from Auckland. Don't think so.
I suppose EMQ operations could be absorbed into Careflight, SLSQ or similar organisations.