I have a Torana collum but had to have a dash mounted ignition due to the smart lock with the AUII engine.
For ADR (VIC, a few years ago) I had to have Steering lock, an important point is that if the steering is locked it must cut power to the ignition. Otherwise you could be at full throttle and not be able to take a corner
So I have 2 keys, one in the collum and one on the dash. The key in the collum must be on so the the ignition in the dash gets power. As my auto elec said "nobody is steeling this car, unless its on a truck"