Not sure about the standards issue however I think the company has good reason to want it pilots with "thousand(s)" of hours to use the experience earlier as FO and not as a SO for 6-7 years.
QF employed these pilots, along with other reasons, for this experience and should expect a return. Esp if their time to retirement is less than the the norm as some are employed well above 30.
According to a SCC(ex RAAF) the RAAF guys/gals appeal for employment is being tarnished with these long term SO's.
Having said that it is poor form to change the rules for current SO/FO's.
Regards
FFRATS