No way mate.
What you should have done was tear all of that old rubber wiring out and start again from scratch.
If I had have been the inspector there, I would have failed your install and removed the supply from the building.
You don't use old metallic conduits for new wiring, especially when they are rusty inside.
What you do do though is, replace all of the old work in Medium Duty PVC conduit and run all your new circuits with it's own earth conductor, tie them together at each box with a "strip connector".
By box I don't mean junction boxes, unless you have a seperate tap off point from that box.
My idea of a box is at light fittings or switches.
Oddly enough, mate, you state you're from the US, do you hold any qualifications as an Electrician in Australia?,
reason I ask that is, if you'd been in the trade long enough to "get your trade", you would have known most of what I've posted above.
