Australian Capital Territory Repealed Regulations

This legislation has been repealed.

FIREARMS (COMPENSATION) REGULATIONS 2003 (REPEALED) - REG 136

    (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.