Yes, but you do have to have 500 hours ICUS. Which is how CASA will dress this turd up.
To complete this slight of hand the ICUS wll be best performed by F/O's simply logging it when it's their leg, with no supervision whatsoever, other than the usual cockpit gradient from Left to Right.
Congratulations CASA and your airline buddies. You have effectively reduced the experience requirements of the Australian ATPL to a cynical exercise in putting the BIC in the logbook!
A very sad day indeed.