FWIW I rang CASA and the response I was given (after some deliberation) was that I can continue to fly twins and singles under my CAR 5 licence but once I get a part 61 licence I won't be allowed to fly singles any more until I do a SEA flight review.
So gaining/renewing a qualification will allow me to do less.
BTW something to watch out for those who have been keeping everything current with an annual MECIR renewal: Next time you renew your IR in a twin you can't fly singles anymore until you do a review
JJTS,
That's the way I read it, and also one of the creators of this mess in Canberra agrees. But in the words of Demtel: "Wait, there's more".
Not only do you need separate IR renewals for a single and a twin (and one FOI says you can't do an SE or ME CIR in the same flight as a flight review), but it seems you need separate tests for CIR "glass" and "round dials".
The potential cost is horrendous, compared with pre. Part 61.
Tootle pip!!
PS: Beware of MOS provisions that do not fit regulations, there seem to be lots of conflicts.