It most definitely can be done, I know a CPOCT who has recently transfered to the RAN, had to drop a rank initially, but is now on his way back to CPO again. He's absolutely loving it. I've heard of a few others doing it as well. There's information about it at;
I know its going back a bit, but an oppo of mine transferred to the RAN in 90 as a scribes just out of part iv, got his hook withing 12 months, contacted through forces reunited a couple of years ago he was a Lt then. - His parent had emigrated (dad was an ex jossman) so that helped him, but if a rating can do it, I don't see why an ossifer can't.
I know numerous people that have trf over the years. Details used to be in DCIs(now DIIs?), but usually involves an interview at the Oz Embassy in London. If you meet their requirements the trf usually happens within months, if the mob will let you go, but you need to become an Oz citizen, I believe, thus giving up your right to be a UK citizen. Talk to the UPO
Darkershadeofblu - There is absolutely no requirement for anyone emigrating to Australia to give up their British citizenship. Australia like Britiain allows dual citizenship, so you have the best of both worlds. If you join the RAN you are required to apply for Aussie citizenship and your family are entitled to apply after spending 3(?) years there.
As regards the original question the Canadian forces and RNZN also welcome transferees in areas where they have shortages. The main difference being the RAN is an expanding not contracting organisation. You may have to join at a rank or rate lower but promotion is competitive. Many ex-RNers have done well in the RAN and a couple have reached 2 star.
Just to confirm what F169 says about dual citizenship. Many of our friends in Oz have children who have taken out passports from the European country of their parents birth, mainly UK but also Italy and Spain so they can enter the EC and work as and when they like.
I can confirm this one can take out Australian citzenship and still keep your British one, therefore being a duel national, I know I have both Aus & British.I can also asure you that loads of lads etc of all the services have transfered to the Aussie forces, others have moved out there after demob and then joined up there within a certain time frame, as I did.