The International Rugby Board will make a final decision on 28 July next year.
The hosts for both tournaments will be announced by the International Rugby Board on 28 July, 2009.
Williams is the reigning International Rugby Board World Player of the Year and Wales' record international try-scorer.
Bernard Lapasset, president of the International Rugby Board, said the Olympics would be "the pinnacle of our sport".
The Wallabies clash in Cardiff on 29 November is outside the International Rugby Board window for autumn Tests.
Rugby World Cup Ltd has recommended England to the International Rugby Board Council as the host for 2015.
Meanwhile, the International Rugby Board - the sport's governing body - said it supported the ban imposed on Williams.
Wales v Australia takes place outside the International Rugby Board autumn Tests window.
The International Rugby Board would scrap its Sevens World Cup to ensure the Olympics is the sport's top event.
The International Rugby Board passed a law late last year to bring packs closer and reduce the force on impact.
The International Rugby Board (IRB) will announce the winning bids for both the 2015 and 2019 tournaments in July 2009.
The International Rugby Board refused to intervene in that case as it was judged to be an internal dispute within Wales.
The UK suggested the proposals be rejected in favour of a third submission for the suffix from the International Rugby Board.
The South Africa Rugby Football Union (SARFU) and International Rugby Board (IRB) have expressed shock and sadness in a joint statement.
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Experimental Law Variations were devised and introduced by the International Rugby Board following consultation with coaches and players throughout world rugby.
The International Rugby Board (IRB) will vote on the hosts for both the 2015 and 2019 World Cups on 28 July.
Wales have slipped to an all-time low of 10th in the latest International Rugby Board rankings, dropping below Scotland and Fiji.
He is also a leading contender to land the International Rugby Board's prestigious Player of the Year award on 23 November.
England, Ireland, Scotland and Wales, were among a record eight countries to indicate their interest to the International Rugby Board for 2015.
The International Rugby Board (IRB) begins the tender process for the 2015 and 2019 tournaments this month by inviting "expressions of interest".
The regions have complied with International Rugby Board rules by releasing players on 26-8 January and the week before the Scotland fixture.
Because the Wallabies match falls outside the International Rugby Board's official Test window, Horsman's English club was not obliged to release him.
Under International Rugby Board rules Montgomery could have been banned for life.
But he has no clause in his contract which guarantees release for training or playing outside of the International Rugby Board window.
So what of Europe's two traditional powerhouses, who now find themselves behind the resurgent Welsh in the official International Rugby Board world rankings?
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The English Premiership clubs' umbrella organisation Premier Rugby objected to his selection as the game is not in the International Rugby Board Test window.
The International Rugby Board recommends that rugby matches should be played when the temperature is below 30 degrees Celsius and humidity levels are below 60%.
Richards was subsequently banned for three years from coaching in European competition, and the ban was extended worldwide by governing body the International Rugby Board.
The Welsh Rugby Union - who have also bid for the 2019 World Cup - have made two joint applications to the International Rugby Board (IRB).
What makes any potential tie-up all the more complex is that any stadium involved in the World Cup comes under the control of the International Rugby Board.
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