Krusty - its exactly the same scenario.
Under this interpretation ICUS can be logged for hours building towards licences and requirements. This is an issue for how the FO logs hours. This is separate from the ICUS required under a CAR 217 to attain a certain standard (ie Command on a SF340). This ICUS is conducted on a set syllabus by a Supervisory or Training Captains.
When someone has their 500 hours ME requirement to satisfy CAO 82.3 App 4 AND the company is prepared to upgrade them AND the seniority system if it exists allows it - THEN the candidate can then progress onto a Command Upgrade ICUS program under the CAR 217 system.
This entire process would take approx 3 years for a cadet at REX. A candidate who is well trained initially and operates within a disciplined multi crew IFR system with stringent C&T (which REX has) and meets these requirements, may actually make an excellent Captain
How do the RAAF do it? Do they send Herc drivers to the Bungle Bungles for 2 years or do they train them internally for command in a disciplined environment with checks and balances? Indeed, how does the rest of the world do it?