The fall in which Melbourne Cup-winning jockey Michelle Payne suffered a serious injury has been judged an accident.

Payne needed pancreatic surgery after the fall at Mildura on May 23.

Victorian stewards completed their inquiry on Wednesday and determined they could not attribute carelessness to any rider and declared the fall an accidental racing incident.

Payne has been back riding trackwork at Ballarat this week but has not revealed whether she will return to competitive riding.

She is believed to have a contract with a women's magazine and will elaborate on her plans in the next couple of weeks.

Payne has applied for a dual licence under a new rule which comes into effect in Victoria on August 1 allowing jockeys to train and ride their own horses.