Apologies to those who have lower resolution screens; I don't normally go to 1000 pixels high, but in this case I was losing too much detail at the lower resolutions and even this reduction doesn't fare well against the original. Indeed, I had to crop this to take out the arches on the level below to stop the clock diminishing into insignificance. Looked at with the naked eye the recurring pattern of curves from the skylight and the levels above, along and below is quite noticeable, but it loses a lot of its effect when translated the size of a computer screen.

(Or at least the pattern is noticeable when some marketing bozo with a desperate need to cover every square millimetre of the earth with advertising hasn't stuck a banner in front of the clock, which they've just done for a couple of weeks. The chains which supported the banner are in this shot, but I thought I'd better take it before they shove another one in and I lose the chance again.)

This is one of two main clocks in the Queen Victoria Building. Surprisingly I can find little in the way of (reliable and sourced) information about it, but it's apparently sometimes known as The Great Australian Clock. The upper level (below the golden dome) features models of scenes from Australian history (with or without a little dramatic licence), and below that are circles depicting the hours, months, days of week and days of month. Originally I thought that these were merely decorative, but there's a vertical golden rod on the far side of the clock at which the values line up to show you the time and date.

Next down we have scenes from Captain Cook's ship Endeavour's voyage up the east coast in 1770 and oh look; a model of the ship herself which endlessly circles the clock. At some points just below that you'll see figures holding out rope-like chains, which I assume are intended to reflect the practice of measuring the depth of water in the pre-sonar days when there weren't any maps because Cook and others hadn't made them yet.

Below that is a ring of smaller clocks showing the time in various parts of the world, then we come to the four faces of the main clock itself. Below that is a bell which is, in theory, rung by the four characters on each corner of the bell platform. I'm not completely sure what they're intended to represent, though one appears to be in an early colonial military uniform.
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Update April 2024: Heee-he-he, how cute that back in 2010 I was worried about people having fewer than 1000 pixels of height! Oh, wait... {Ponders the fact that the majority of people consume on mobile devices rather than desktops these days, though fails to see the point of consuming a photo hosting site that way...}