FYI PhD students are exempted from this regulation, though in all honesty Australia should just shut down degree mill and cash cow programs to nip the problem in the bud.
For example, a Masters in Project Management [0] or Information Technology [1] from CQUni that ends up costing AUD 80k-100k in tuition, fees, and living costs isn't opening any doors professionally in the old country nor in Australia.
But they won't.
Same goes for Canada and the UK.
[0] - https://www.cqu.edu.au/courses/cv84/master-of-project-manage...
[1] - https://www.cqu.edu.au/courses/cc54/master-of-information-te...