(1) A person must not dispose of or acquire—
(a) a prohibited firearm that is not registered; or
(b) any other firearm that is not registered.
Maximum penalty:
(a) for subsection (1) (a)—1000 penalty units, imprisonment for 10 years or both; or
(b) for subsection (1) (b)—500 penalty units, imprisonment for 5 years or both.
(2) A person must not possess or use—
(a) a prohibited firearm that is not registered; or
(b) any other firearm that is not registered.
Maximum penalty:
(a) for subsection (2) (a)—1 000 penalty units, imprisonment for 10 years or both; or
(b) for subsection (2) (b)—500 penalty units, imprisonment for 5 years or both.
(3) Subsection (1), to the extent that it creates an offence of disposing of a firearm that is not registered, and subsection (2), to the extent that it creates an offence of possessing a firearm that is not registered, do not apply in relation to the surrender of a firearm to a police officer.
(4) Also, subsection (1), to the extent that it creates an offence of acquiring a firearm that is not registered, and subsection (2), to the extent that it creates an offence of possessing a firearm that is not registered, do not apply if—
(a) the person is a licensed firearms dealer; and
(b) the firearm is registered within the period prescribed by regulation.
(5) Also, subsections (1) and (2) do not apply to a person if the person—
(a) did not know, and could not reasonably be expected to have known, that the firearm was not registered; and
(b) is not the owner of the firearm.