I agree - I know I can remove restrictions in ACP but my moderator team are not able to remove these it seems without going into to a member's warnings, and say for instance creating a new warning instance to remove a permanent posting approval. Which seems pretty crazy.
I might be misunderstanding the system here as fortunately this is not something we have to often use on my board but the only solution I've seen so far, is a paid modification for a function that should be included as standard.
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Apologies if I've got the wrong idea about this, but it seems a much more clunky system than we used to have (I'm on 3.3.4 so it may be different now of course).