recreation rego in all its different forms is basically a way to ride a vehicle that does not comply to Australian Standards legally in certain areas. Different states have different rules, things you need, costs, ect ect ect
For example here in Queensland you don't need anything really, just a Vin number, Engine number, a receipt to prove that you didn't steal it and some money to pay for the rego. Normal rules apply to licensing (bikes in your license limits so you would need minimum of a restricted bike license which is 250cc or under to ride most pittys) different states may have different rules so check them out.