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The answer is: It depends on the Budgerigar Club that you join.
In State and National budgerigar shows in Australia, any birds you show must have been bred (and ringed) by the exhibitor that is showing those birds.
However many clubs do allow Novice breeders to show birds that they have bought for the first twelve months only. This allows the exhibitor to get experience at showing birds whilst they are breeding and ringing their own budgies.
For all intermediate and champion breeders it is different. In these classes the birds must have been owner bred. These are birds that you have taken the time, care and atention to take the hatched eggs through to the 'Nest Feather' (fledgling) stage. You then have the right to put your own coded breeders rings on these budgies. To obtain your own rings you must belong to a registered Budgerigar or Bird Club. Ring on Budgie Leg