Correct - IRC & ORC are two measurment based rating systems (not a handicap) - Based on length, weight, sail area, hull shape, etc. Not mandatory, but necessary if you are a keen competitotr. PHS (Performance Handicap System??) is more locally based, and will use basic measuments (length, disp, sail area, etc), and then that will be adjusted in a range for your peformance & the type of race. You should get a PHS handicap for the race from the organising authority.
I'm not familiar with the Carter 33. Is it based on the old IOR 3/4 type of design...?? I used to own a UFO34 (similar to an S&S34) - very seaworthy boats. Was the Carter a local design? When were they built?? Has anyone ever had one certified to Cat 2 or cat 3 before? If you know the name of other Carter 33's, do some Google searches of race results to see if you can find another that has been certified.
Have you spoken with Yachting Australia? I assume you are affiliated with YA via your club, so put those fees to good use and see if they have any Carter 33's on record that have achieved cat 2

Failing all the above, you can get a Naval Artichoke to do the stablity & design reviews, but like you noted, that will be quite a few $$$

I trust this helps a bit
Poods