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Yes i would agree per se, but obviously this is stated on the Victorian Government website of Resources Victoria who regulate and manage access to resources within Victoria and also play a key role in policy development and regulatory reform. Even though it does not state a direct reference you can use Geovic and utilizing layers and filters to highlight all S7 areas. After identifying these areas you can gain further information about what exact exemption applies to that area, some range from exemptions of having no licences through to a total ban in areas such as National Parks. These folios can be downloaded and are signed scans of the original exemptions that apply to that specific S7 area. I have attached Folio 90016214 which is for the S7 over the Ballarat area, as you can read the exemption is only for no licence to be held over the area, therefore prospecting is allowed. This can be done for the entire state and this link to Resources Victoria explains how to do toward the bottom of the page.That screenshot extract is all very well, but as far as I can see it is only a website interpretation of the regs, as there is no reference to a specific clause of the Act which states the same thing. Unless that interpretation is stated in the Act, the interpretation has no legal validity.
https://resources.vic.gov.au/licensing-approvals/mineral-licences/section-7-exemptions