According to VIC Law for the charge of Speed trials, (1) A person who on a highway drives or is in charge of a motor vehicle which
is being used in a race or speed trial is guilty of an offence.

Penalty: For a first offence, 8 penalty units. For a subsequent offence, 15
penalty units.

(2) A person who, alone or with any other person, organizes or manages a race
or speed trial held or to be held on a highway and carries out or causes to be
carried out any preparations for the conduct of that race or speed trial is
guilty of an offence.

Penalty: For a first offence, 8 penalty units. For a subsequent offence, 15
penalty units.

(3) The Minister may by notice published in the Government Gazette declare
that the provisions of subsections (1) and (2) and of any regulations (except
as specified in the notice) do not apply with respect to a race or speed trial
held or to be held on a highway or part of a highway specified in the notice
on a day and between the hours so specified.

(4) The Minister may, on the application of a motoring organisation, by notice
published in the Government Gazette declare that the provisions of subsections
(1) and (2) and of any regulations (except as specified in the notice) do not
apply with respect to any function or event that is organised and conducted by
that motoring organisation.

(5) The Minister may, by instrument, delegate to any person the power of the
Minister under subsection (3) or (4) to issue notices.

(6) In this section, speed trial means an organised motor vehicle event, or
any part of such an event, that is a competitive test of speed an object of
which is, or requires for its attainment, the travelling over a distance in
the shortest possible time, but does not include an event, or any part of an
event, in which it is a condition of participation that participants comply
with all applicable road laws.

According to VIC Law for the charge of Speed trials,

1. Where a person drives or is in charge of a motor vehicle being usied for the purpose of speed trial or race: 8 penalty units (1st offence), 15 penalty units (subsequent offence).

2. Where a person, either alone or in company with any other person, organises, controls, prepares a speed trial or race: 8 penalty units (2st offence), 15 penalty units (subsequent offence).

1. Person driving a motor vehicle, or in charge of a motor vehicle;

2. on a highway;

3. for the purpose of a speed trial or race (a competitive test of speed, an object of which is, or requires for its attainment, the travelling over a distance in the shortest possible time, but does not include an event, or any part of an event, in which it is a condition of participation that participants comply with all applicable road laws).

1. Factual dispute.

2. The event/function had approved authorisation by the Minister by government gazette. 

The offences unders s. 68 can be heard and determined summarily.