(1) A person in possession of a firearm or ammunition:
(a) must take all reasonable precautions to ensure that:
(i) it is kept safely; and
(ii) it is not stolen or lost; and
(iii) it does not come into the possession of a person who is not authorised to possess it; and
(b) must comply with the storage and safe keeping requirements under this Act that apply to the firearm or ammunition.
Maximum penalty: If the offender is an individual – 50 penalty units or imprisonment for 12 months.
If the offender is a body corporate – 250 penalty units.
(2) Subsection (1)(b) does not apply in relation to a firearm if the person in possession of the firearm satisfies the Commissioner that the person has provided alternative arrangements for the storage and safe keeping of the firearm (and any ammunition) that are of a standard not less than the requirements under the Act.
(3) The Regulations may specify the minimum standards for storage and safe keeping of firearms or classes of firearms (and ammunition).