New South Wales Consolidated Acts

PHARMACY PRACTICE ACT 2006 - SECT 27

27 Exemption for certain bodies corporate

(1) This section applies to a body corporate that, immediately before the repeal of the Pharmacy (General) Regulation 1998 , lawfully carried on a pharmacy business or had a pecuniary interest in such a business under clause 21 of that Regulation.

(2) Section 25 does not prevent a body corporate to which this section applies from continuing to carry on such business or continuing to have such a pecuniary interest in accordance with and subject to the provisions of clause 21 of the Pharmacy (General) Regulation 1998 as in force immediately before its repeal.

Note: The definition of "pecuniary interest" in section 4 (1) and sections 25 and 27 of this Act operate to prohibit a person (other than a registered pharmacist, a partner in a pharmacists’ partnership or a pharmacists’ body corporate or a member of a pharmacists’ body corporate) from having a pecuniary interest (including as a shareholder) in a body corporate to which section 27 applies (other than a listed corporation within the meaning of the Corporations Act 2001 of the Commonwealth). That prohibition, however, does not apply where the person was a member of the body corporate before the commencement of Schedule 7.12 to this Act.