The report, from the Australian Transport Safety Bureau, was initially set to be released late last year, before it was changed to quarter two, 2022 - this has now changed again to quarter three.

The preliminary report into the incident was released in October 2020.

AS IT HAPPENED: One man injured as late night train crashes through Lydiard Street gates

The incident involved a V/Line passenger train crashing through the southern pair of heritage-style wooden swing gates across the Lydiard Street level crossing on the night of May 30, 2020, resulting in two injuries.

The street was closed for more than a year after the accident, with orange barricades in place, while the state government and V/Line decided to how to reopen the crossing.

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Heritage advocates and the City of Ballarat pushed for the heritage-style gates to return with the original mechanisms in place, however the decision was ultimately made to install boom gates to reopen the road.

The state government committed $10 million in the 2021 budget to the project, which also involved modernising signalling facilities.

Heritage Victoria approved a permit for the boom gates, however there was a condition planning work must begin for a permanent solution for the crossing that acknowledges the heritage value of the area.

According to the ATSB, the draft final report on the incident is currently undergoing internal review.

"It will then be provided to directly involved parties for their comment and review, prior to finalisation for public release," a spokesperson said in a statement.

READ MORE: Lydiard Street reopens for first time in almost 18 months

"The ATSB currently anticipates publishing the final report, which will outline safety already taken in response to the investigation and the incident, in the third quarter of 2022.

"The ATSB notes that throughout the course of the investigation process investigators proactively share identified safety issues and concerns with involved parties so they may take appropriate and timely safety action.

"The investigation is being led by Victoria's Chief Investigator, Transport Safety (CITS). CITS conducts rail investigations in Victoria on behalf of the ATSB under the Transport Safety Investigation Act 2003."

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The preliminary report concluded the train had suffered braking issues after it left Ballan on the night of the incident, which resulted in it passing through the Humffray Street level crossing at 117km/h and Ballarat station at about 100km/h.

"Approximately 49 (seconds) before the train passed through Lydiard St, CCTV recorded a group of three pedestrians passing over the crossing," the preliminary report states.

Testing has since occurred on the entire V/Locity train fleet, with further testing to be addressed in the final report.

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