The 32-year-old rider had already been penalised on two other occasions under the rule and said at Perth "that's it, I'm not riding again", throwing his licence on the weighing-room floor.
Yesterday he confirmed that decision: "I have no intention of race-riding again, although I have been told I can re-apply for a licence on 1 August," he said.
"I expected it, but I am under their rules and they didn't like what I had to say after the incident at Perth - I was told to consider my conduct in the future if I wanted to stay in racing."
The Jockey Club stewards felt that Guest's behaviour towards officials during the initial inquiry at Perth was unacceptable. Guest had suggested that there had been a witch hunt against him and at the time said he would not attend a Portman Square inquiry.
"Having an opinion hasn't done me any good," Guest said yesterday. "But if I want to do anything in racing, riding or training, I have to have a licence from the Jockey Club.
"I changed my mind about coming to the inquiry to give myself a chance. It seemed the right thing to do, but the result was what I expected."
Guest comes from a Hampshire family long involved in racing. His uncle Joe Guest had a riding career in the 1950s and 60s and his father, Charlie, was also a well-known jockey.
"My dad will be devastated," Guest said. "In 20 years of racing he was never in trouble of any sort. "I have ridden in the same style all my life and I couldn't change.
"The horse, This is My Life, did not like the ground at Perth and ran only because it was already there. I didn't cheat anyone, I have always ridden the same way in which I was taught."Reuse content