No, a cobra falls outside of the street rod years.
WA
http://www.dpi.wa.gov.au/licensing/1414.asp
In simple terms you apply to the DPI or now the transport department to build an ICV and nominate what you want to build and engine etc. The DPI / Transport will then grant you permission to build and give you a 2 year time frame to build. If you go outside that time frame they may impose new regs on your build. IM 240 test was one that was recently added, now it has just been suspended due to "technical issues" whole other thread.
Compared to the rest of the country we have it fairly easy here in the west but there are still plenty of hoops to jump through.
If the kit car industry wants to survive in Australia and be part of nation building local industry it must do the pushing.
How many kit manufacturers are there in Australia (not just cobra's)? These are the targets to stir up not the poor mug who buys a kit in the hope of one day being able to negotiate their way through the minefield of regs.
Happy to be part of a new wave movement and wave flags and sign a petition.
I also feel like it has been done to death.