From my reading of the latest LCD and from my communications with ACMA the following is permitted.
If you live in VK's 1, 2, 3, 4 then the band 50.3 to 52.0 MHz is out of bounds, period it's 50.0 50.3 with 120W PEP maximum power output and the 52. - 54MHz with 400W PEP (For AOCP (Advanced) holders)
If you live in VK's 5,6,7,8 etc then ALL of the band 50.0 - 54.0MHz is available to you and with the maximum SSB power output of 400W PEP (For advanced licencee's).
Note that according to the LCD only SSB, CW and RTTY are permitted modes for VK's 1, 2,3,4 with a maximum SSB output power of 120W PEP and at no time does it mention that PSK of any form is permitted.
It is however a different kettle of fish altogether for VK5,6,7,8 etc as they have no band or mode restrictions upon them for the 6M band.(Apart from the usual maximum bandwith usage by a transmission restriction that is)
There ya go
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