(1) A person meets the requirements of this subsection if the person:
(a) holds a degree, diploma or certificate from a university, or other institution in Australia, that is prescribed by regulations made for the purposes of paragraph 1280(2A)(a) of the Corporations Act 2001 ; and
(b) has, in the course of obtaining that degree, diploma or certificate, passed examinations in such subjects, under whatever name, as the appropriate authority of the university or other institution certifies to the General Manager to represent a course of study:
(i) in accountancy (including auditing) of not less than 3 years duration; and
(ii) in commercial law (including company law) of not less than 2 years duration; and
(c) has satisfactorily completed a course in auditing prescribed by regulations made for the purposes of paragraph 1280(2A)(c) of the Corporations Act 2001 .
(2) A person meets the requirements of this subsection if the person has other qualifications and experience that, in the General Manager's opinion, are equivalent to the requirements mentioned in subsection (1).