Oliver's mount shifted on the first bend which in-turn caused a raft of interference throughout the field, an incident which the stewards deemed worthy of a ban.
The two-time Melbourne Cup winner will now miss his ride on the much-fancied Fiorente in the $3 million weight-for-age championship just weeks after sensationally replacing the sacked Nash Rawiller on the star import.
The suspension will begin after Saturday's Caulfield Cup, where Oliver will ride Jet Away, but despite that saving grace he will still miss next week's $1 million Manikato Stakes, the Geelong Cup and the Bendigo Cup.
The 41-year-old opted against appealing the decision.
In an ironic twist, Rawiller will also miss the Cox Plate after being handed a five-meet suspension for careless riding at Warwick Farm on Wednesday.
He was in contention to ride Rekindled Interest in the event.
Damien Oliver to miss Cox Plate
