Here in NSW Historic rego is $55 for a year, you also are required to have comprehensive insurance and yes you do have to be a financial member of an approved club. I have found you can get insurance reasnobly cheap as the insurers are aware of the historic rego regulations and they have policies tailored around that. The vehicle has to have a roadworthy cert or the like from your clubs officials.
I see you are in Victoria but I'm guessing its similar to NSW.
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