Waterhouse/Bott stayer cops penalty for Group 1 win.

Just Fine has incurred a Melbourne Cup penalty for his win in last Saturday's The Metropolitan with the imported stayer's weight elevated 0.5kg to 53kg.

The Gai Waterhouse and Adrian Bott-trained-trained stayer extended his unbeaten run in Australia to three with his track record win in the 2400-metre Group 1 The Metropolitan.

Just Fine carried 50kg to victory in that event and was already assessed at 52.5kg in the Melbourne Cup, which Racing Victoria's head of handicapping David Hegan said countered the need for him to issue a more severe rehandicap.

"The half kilo penalty balances the fact that Just Fine carried the minimum weight of 50kg in the Group 1 Metropolitan, and he already had 52.5kg in the Melbourne Cup," Hegan said.

"So, he was expected to run a big race and duly did so in extending his unbeaten run in Australia.

"When measuring his performance through the horses that finished between third and fifth who are all heading towards the Melbourne Cup, and also factoring in his updated domestic rating with an overall profile as Group 1 winner over 2400m, a slight adjustment to his weight was required.

"The adjusted weight of 53kg therefore confirms a performance level that is commensurate with his last two wins."

Saturday's win ensured Just Fine passed the first ballot clause for the $8.4 million Melbourne Cup and he is now 30th in order of entry for a start in the November 7 event.

First acceptances for the Melbourne Cup will be taken at midday Tuesday with an updated Order of Entry to be published later that afternoon.