Racing is set to resume in Victoria on Saturday and the spring carnival will continue on schedule, even if it is restricted purely to Victorian horses.

Authorities say the state is still free of equine influenza (EI) that has reached epidemic proportions in NSW, leaving the way clear to ease the lockdown imposed on all horses in the state on Saturday.

Racing Victoria Limited (RVL) chairman Graham Duff said permits would now be sought to allow horses to leave their stables and resume training.

With the granting of permits regarded as a formality, the industry will be back in action from Tuesday morning, although the lockdown will remain officially in place until 1pm on Friday.

As dozens more horses in NSW have tested positive to EI, Mr Duff says all racehorses in Victoria have been examined and none have shown any sign of the viral infection.

Most importantly, no horse brought into Victoria from interstate in the past 14 days has EI.

"All horses that have been brought into Victoria over the last 14 days have been tested and there's no evidence of any of this virus being present," Mr Duff said.

"Victoria still has no incidence of the equine influenza epidemic that is evident in NSW."

Permission to apply for permits exempting horses from the lockdown will initially be sought for those trained at Flemington and Caulfield racecourses in Melbourne.

Further permits will then be sought to allow horses trained at any other of the state's 39 training centres to be exempt.

Once the permits are granted, strict hygiene rules will be in force at all stables.

RVL chief executive Stephen Allanson said that until at least Friday, permits will only be granted to horses trained on racecourses or who can walk to a training track.

Those that need to be transported must remain in their barns until at least 1pm on Friday.

As well as staging Saturday's Memsie Stakes meeting at Caulfield, attempts will be made to catch up with the backlog of races cancelled.

Mr Allanson said an additional metropolitan meeting may be staged on Sunday, possibly at Moonee Valley.

"Other meetings will be announced as we progress tomorrow," Mr Allanson said.

The Group Three McEwen Stakes which was lost due to the abandonment of last Saturday's Moonee Valley meeting may be staged this weekend.

The decision to allow racing from Saturday comes as a relief to wagering operator Tabcorp whose shares dived on the Australian Stock Exchange on Monday.

Tabcorp estimates it will have missed out on some $150 million in turnover by the end of the week.

Of that amount, the racing industry would have received around $7.5 million.

Mr Duff said he was confident precautions taken in Victoria had prevented any transmission of EI from interstate.

"We have undertaken a very exhaustive program," he said.

"We have checked every box, every horse.

"We can say there is no racehorse in Victoria that has the virus."

Assuming Victoria remains free of EI, RVL is confident the spring carnival dates will stay as scheduled.

But Mr Duff agreed it was possible that interstate horses, particularly those from NSW, could be missing from the big races.

Runners from NSW may still be able take part in races in Melbourne if they are cleared of the virus.

Any horse cleared to travel would then be likely to be quarantined in Victoria.

Victorian Department of Primary Industry (DPI) chief veterinary officer Dr Hugh Millar gave approval for training to recommence at the two suburban Melbourne tracks from 4am tomorrow.

"This decision is taken in consideration of the management of risk associated and logistics involved," the spokesman said.

"Central to this decision is the knowledge that none of the horses at those venues have come into contact with leisure horse whose medical status is unknown to Racing Victoria."

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