Australian Capital Territory Numbered Regulations

FIREARMS (COMPENSATION) REGULATIONS 2003 (NO 28 OF 2003) - REG 9

substitute

136     Compensation for licensed firearms dealers—prohibited pistols

    (1)     This section applies to a prohibited pistol owned by a licensed firearms dealer if—

        (a)     the dealer acquired or ordered the pistol before 20 December 2002; and

        (b)     the dealer surrenders the pistol to a police officer during the amnesty period.

    (2)     The dealer is entitled to payment of the following amount of compensation for the pistol:

        (a)     if     the pistol was imported by the dealer—the total of the customs value of the pistol determined in accordance with the Customs Act 1901 (Cwlth), section 159 and 20% of that determined customs value;

        (b)     in any other case—

              (i)     if a valuation list applies to the pistol—the amount worked out in accordance with the list; or

              (ii)     if a valuation list does not apply to the pistol—the amount assessed by the valuation panel.

    (3)     However, if a valuation list applies to the pistol but the dealer asks a police officer to arrange for the pistol's value to be assessed by the valuation panel, the dealer is entitled to payment of the amount of compensation assessed by the valuation panel.

136A     Compensation for licensed firearms dealers—other items

    (1)     In this section:

"related item" means—

        (a)     any part or accessory for a prohibited pistol that can be used only for a prohibited pistol; or

        (b)     commercially available factory-loaded ammunition that can be used only by a prohibited pistol.

    (2)     This section applies to a licensed firearms dealer if—

        (a)     the dealer acquired or ordered a related item before 20 December 2002; and

        (b)     the dealer surrenders the item to a police officer during the amnesty period.

    (3)     For each particular kind of related item surrendered by the dealer, the dealer is entitled to payment of the amount of compensation worked out in accordance with subsection (4) or (5) for a quantity of the item that is not more than a commercially viable stock level for the item.

    (4)     The amount of compensation payable to the dealer for a related item is as follows:

        (a)     if     the item was imported by the dealer—the total of the customs value of the item determined in accordance with the Customs Act 1901 (Cwlth), section 159 and 20% of that determined customs value;

        (b)     in any other case—

              (i)     if a valuation list applies to the item—the amount worked out in accordance with the list; or

              (ii)     if a valuation list does not apply to the item—the amount assessed by the valuation panel.

    (5)     However, if a valuation list applies to the item but the dealer asks a police officer to arrange for the item's value to be assessed by the valuation panel, amount of compensation payable to the dealer is the amount assessed by the valuation panel.

    (6)     For this section, the person or a police officer may ask the valuation panel to decide whether—

        (a)     a thing is a related item for the dealer; or

        (b)     the quantity of a related item that is a commercially viable stock level for the item.

    (7)     The valuation panel's decision applies to the working out of the amount of compensation to which the dealer is entitled to under this section.