For High Capacity RPT it is actually a company stipulated requirement. To fly a 737 there is NO CAO requirement for 500 multi. Virgin and Jetstar just choose to have it that way to stop foreigners with walkup 737 jobs coming in and sharking all the Australian jobs
In all seriousness though I don't know why these operators bother with the 500 multi requirement. If you get to that level then really it doesn't prove much.
However at the moment if you want a job in Australia you will have to go to Darwin, Kununurra, start on a single work your way to a twin then apply. I cannot see major airlines having a training captain sit in the LHS seat just so you can get 500 ICUS. There are no short cuts in this country
