[over.ics.list] p9 The cross-referenced subclause [over.ics.ref] does not touch an non-expression initializer

[over.ics.list] p9 says

Otherwise, if the parameter is a reference, see [over.ics.ref].

However, [over.ics.ref] does not cover the case where the initializer is not an expression. Even the subclause [dcl.ref] is based on the initializer expression.

So, the cross-referenced subclause says nothing about the case where the initializer is an initializer list. The change to [over.ics.list] p9 might be

Otherwise, if the parameter is a reference, the conversion sequence is the one required to convert the initializer list to the referenced type.

This means the other rules other than [over.ics.list] p9 can define the conversion sequence for this case, which conforms to what the note after [over.ics.list] wants to say

The rules in this subclause will apply for initializing the underlying temporary for the reference.

Start with [over.ics.list] paragraph 9 and compare its reference to [over.ics.ref] and [dcl.ref]. Check how the wording handles a reference parameter whose initializer is an initializer list rather than an expression. Done means the cross-reference or replacement wording specifies the required conversion sequence without leaving that case uncovered.