Although the detailed Migration Regulations which will apply from March 2018 are not yet available, some clarity has been given by DIBP to the grandfathering of those people who held a 457 or who had applied for a 457 as of 18 April 2017.
What is now clear is that if you held a 457 visa as of 18 April 2017; or have a pending 457 visa application as of 18 April 2017, and this application was subsequently granted you will not need to meet all the new requirements when applying for Temporary Residence Transition Stream from March 2018. What this means is that these grandfathered 457 holders have access to transitional provisions which would preserve their eligibility for permanent residence through the Temporary Residence Transition Stream.
Applicants will still be able to apply as long as their:-
occupation requirements remain the same (ie there are no restrictions as long as the nominee continues to work in the same position for the same employer as approved for their subclass 457 visa)
the age requirement will remain at less than 50 years of age; and
the work experience requirement, and the requirement to have worked at least two out of the three years prior to nomination on a subclass 457, will remain at two years.
They will, however, be required to meet additional subclass 186 and subclass 187 eligibility criteria that will be in place at that time, including English language requirements and salary arrangements, with the Temporary Skilled Migration Income Threshold (TSMIT) to be introduced for subclass 186 and 187 visa from March 2018.
If you believe the above applies to you we suggest you do get specific advice from a registered migration agent. If you require an assessment from us please do not hesitate to contact us.