This article offers a conceptually based commentary that addresses a longstanding dilemma for physical education, of what theoretical insights can usefully be pursued as a basis for advancing physical education curriculum, pedagogy and assessment. It utilises the work of Basil Bernstein to argue that structural and symbolic boundaries are key to understanding and productively engaging with stability and change in physical education. Relations between curriculum, pedagogy and assessment are examined in terms of their linkages with legitimate knowledge structures and knowledge relations in/of physical education, and in turn, with equity in physical education. While curriculum, pedagogy and assessment are each identified as important avenues for critically informed pedagogic action, the collective dynamic is identified as over-riding any single influence. Furthermore, that dynamic is shown to be inseparable from the knowledge structures in/of physical education.