From Victorian Govt sites:-
http://www.consumer.vic.gov.au/CA256902000FE154/Lookup/CAV_Publications_Product_Safety/$file/laserpointers.pdf
List of Prohibited Weapons:-
http://www.justice.vic.gov.au/wps/wc...ibited+Weapons- Strong laser pointer - any hand-held laser pointer that can emit a laser beam with an accessible emission limit of greater than 1mW
Weapon # 022 "A hand-held battery-operated article commonly known as a "laser pointer" designed or adapted to emit a laser beam with an accessible emission limit of greater than 1mW." (See the attached photo - that is the photo given on the site of this "prohibited weapon".)
No mention of any exemptions. But note, as has been mentioned, this refers to "hand-held" so a laser pointer mounted in a fitting and only operated there would seem to be not in this category.
"A person can apply to the Chief Commissioner of Police for approval to use, possess, carry, sell or display prohibited weapons. Applications for approvals are made through the Licensing Services Division of Victoria Police."