diff --git a/lib/moodlelib.php b/lib/moodlelib.php
index 84a1c2dfe34..19a85425564 100644
--- a/lib/moodlelib.php
+++ b/lib/moodlelib.php
@@ -3140,6 +3140,15 @@ function require_login($courseorid = null, $autologinguest = true, $cm = null, $
         }
     }
 
+    // Set the global $COURSE.
+    // TODO MDL-49434: setting current course/cm should be after the check $cm->uservisible .
+    if ($cm) {
+        $PAGE->set_cm($cm, $course);
+        $PAGE->set_pagelayout('incourse');
+    } else if (!empty($courseorid)) {
+        $PAGE->set_course($course);
+    }
+
     // Check visibility of activity to current user; includes visible flag, groupmembersonly, conditional availability, etc.
     if ($cm && !$cm->uservisible) {
         if ($preventredirect) {
@@ -3153,14 +3162,6 @@ function require_login($courseorid = null, $autologinguest = true, $cm = null, $
         redirect($url, get_string('activityiscurrentlyhidden'));
     }
 
-    // Set the global $COURSE.
-    if ($cm) {
-        $PAGE->set_cm($cm, $course);
-        $PAGE->set_pagelayout('incourse');
-    } else if (!empty($courseorid)) {
-        $PAGE->set_course($course);
-    }
-
     // Finally access granted, update lastaccess times.
     user_accesstime_log($course->id);
 }