This just proves how silly the system can be. One can be in a situation where he/she has 1500+ hrs fulfill all the ATPL hours requirements have passed all the groundschool exams but because he/she has not completed a LST (which I'm sure is no more difficult than a JAR LPC) cannot take command in a flight for revenue environment. This affect GA more than airliners as most of the TRE in the airlines would have the authority to conduct LST on your initial type rating flights.
The licencing requirements do not reflect the possible experience levels one might have.