The American Anglican Council (a body which is closely associated with ACNA) has published a document entitled COMMUNION GOVERNANCE The Role and Future of the Historic Episcopate and the Anglican Communion Covenant by Stephen Noll.
There is an introduction and explanation of it by Phil Ashey which can be found at Introduction to “Communion Governance”. The key summary is:
1. The conclusion of this essay is that the one matter of principle that cannot be abandoned without abandoning our particular catholic and Anglican heritage is the responsibility of the ordained and bishops in council in particular, to rule and adjudicate matters of Communion doctrine and discipline.
2. If this is true, then the Lambeth Conference and the Primates’ Meeting (with the Archbishop of Canterbury presiding as primus inter pares) must be seen as the primary organs to deal with articulation of the faith, as happened at Lambeth 1998, and with breaches of the faith, as has not happened since then.
3. There must be only one track: those who adopt the Covenant are members of the Communion; those who do not adopt it are not. Bp. Mouneer Anis is right: when a sufficient number of Provinces have adopted the Covenant, the ACC and its Standing Committee should stand down and be constituted solely from Covenant-keeping Provinces. (pp. 48-49)