FY1 is one year, FY2 is the second year of the foundation programme (but you are fully registered with the GMC by then, in principle, I think). I think if you complete all the requirements for passing FY1 you will be able to register with the GMC without any issues? Maybe if you have some undeclared fitness to practice issue which hasn't come to light until that point it might not necessarily "guarantee" it but I think that's maybe an obvious exception. However I'm not that certain of how it works in practice since I am not a medic!
@ecolier might be able to give more advice on that.
In general though in the UK, once you get onto the medical degree as long as you meet the minimum requirements to progress you're basically guaranteed to continue to through the degree and into a foundation post and presumably hence to GMC registration. However bear in mind that is just the start and then you have FY2 and either GP or specialty training, and that is not necessarily guaranteed (although some specialties in some regions are routinely underfilled so if you applied there to that specialty you would basically be guaranteed a spot if you meet the requirements - possibly even having an interview waived if you score enough portfolio points. For GP training in some areas they'll throw in a free £20k golden hello too!).
Of course it's possible actually meeting those progression requirements is hard (such as it is in many European medical schools where they let in almost everyone but only the top X proportion of students will continue to subsequent years of the medical degree) but UK medical degrees have very low drop out/fail rates so I think that's less of an issue. The hard bit is getting in, to a point!
Not sure how Ireland or Australia specifically compare to that, except for in Australia you will be basically guaranteed a training spot if you go for one of the undersubscribed rural locations - and in fact at least Australian students (not sure about international students) may be offered a "bonded" place which is fully funded by bursaries that don't need to be paid back, on the proviso that you
must work in one of those regions for a fixed number of years after graduating (to meet the need for doctors in severely undersubscribed regions, mostly in the outback and such). Of course, if they don't do that then they have to repay the whole thing themselves...