457 Visas and the Genuine Position Criterion

What is the correct test for determining whether the position for which an applicant for a 457 visa has been nominated is “genuine”?
This is a question that is of course of critical importance for applicants for 457 visas and their sponsoring employers, as the Schedule 2 criteria for 457 visas include as a key element the requirement that the Minister be satisfied that “the position associated with the nominated occupation is genuine” - clause 457.223(4) (d) (ii) – and because it is common for 457 visa applications to be refused on the basis that the reviewing delegate is not satisfied that the position is in fact genuine.
So it is worth noting a recent decision from the Federal Court of Australia in which this issue was revisited, Pasricha v Minister for Immigration and Border Protection (2017) FCA 779.
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