Mr Turnbull was joined by Mr Peter Dutton - the big winner from the shake up - and Attorney-General George Brandis and Justice Minister Michael Keenan.
The changes are to be finalised by June 30,2018 - subject to approval of the National Security Committee of Cabinet - with Mr Dutton to work with Senator Brandis in bedding down the changes.
Senator Brandis will lose responsibility for ASIO under the changes but,crucially,retain sign-off power on warrants for intelligence agency.