For subparagraph 1280(2)(b)(ii) of the Act, each of the following is prescribed practical experience in auditing:
(a) during the 5 years immediately before the date of the application, at least 3 000 hours work in auditing under the direction of a registered company auditor, including:
(i) appraising the operations of companies and forming opinions on the matters specified in sections 307, 308 and 309 of the Act; and
(ii) at least 750 hours spent supervising audits of companies;
(b) practical experience that, in the opinion of ASIC, is equivalent to the practical experience mentioned in paragraph (a);
(c) work of the kind and duration mentioned in paragraph (a) that was done under previous laws corresponding to sections 307, 308 and 309 of the Act.