Actually, it used to be part of the "privileges and limitations" of the CPL; but now the relevant part says:
5.105 What does a commercial pilot (aeroplane) licence authorise a person to do?
(1) A commercial pilot (aeroplane) licence authorises the holder of the licence:
(a) to fly a single pilot aeroplane as pilot in command while the aeroplane is engaged in any operation; and
(b) to fly a multi‑pilot aeroplane as pilot in command while the aeroplane is engaged in any operation other than a charter operation, or a regular public transport operation; and
(c) to fly an aeroplane as co‑pilot while the aeroplane is engaged in any operation.
...mind you when I look at the oldest available version of the CAR1988 (dated 1992) I find the wording is exactly the same as it is today.
Yet another student pilot misunderstanding/misinterpretation on my part I suppose
