This paper draws on concepts from contemporary education policy sociology to explore the prospective interpretation, contextualisation and enactment of Health and Physical Education in the Australian Curriculum. Analysis examines the dynamic between characteristics of official texts and the contexts in which responses will be made. The paper identifies the consultation draft curriculum as highly flexible, such that multiple aspects of past and current policy contexts can be expected to strongly frame its reading and enactment. Exploration of contexts points to the critical role that policy actors, agencies and artefacts will all play in determining the ways in which the new curriculum will be expressed and experienced in schools across Australia. Discussion raises issues for Health and Physical Education teachers, teacher educators and members of professional associations to consider in looking forward.