No, it isn't misleading. "Universities could face fines for failing to uphold free speech if their student unions do not give a platform to speakers such as Germaine Greer and Peter Tatchell, the higher education minister has said.". Such behaviour if it occurred would be 'disallowing free speech' and might be dealt with accordingly as described in the article.

Your second paragraph epitomises the problem highlighted by the minister. It seems that you seek to judge free speech by considerations aside from its legality. I am not aware that Voltaire added a qualification to "I disapprove of what you say, but I will defend to the death your right to say it".