Melbourne Cup-winning jockey Michelle Payne has been suspended for four weeks.

Michelle Payne. Photo: Darryl Sherer

Payne pleaded guilty on Thursday to a prohibited substance charge levelled by Racing Victoria stewards.

Payne told the inquiry she took phentermine on medical advice to counter the residual effects from her life-threatening fall in May last year where she suffered a lacerated pancreas among other injuries.

“I regret the way I handled the situation and I take full responsibility,” Payne said during the inquiry.

Payne’s suspension commenced from the day she was stood down, June 23. She will be free to recommence her riding career on July 23.

Payne made a statement accepting the penalty following the hearing.