(1) In accordance with section 4—
(a) a person who is desirous of operating as a collector may apply to the appropriate authority for an antique firearm collector licence; and
(b) the appropriate authority may subject to subsection (2) grant the antique firearm collector licence.
(2) The appropriate authority shall not grant an antique firearm collector licence unless satisfied that the applicant has special knowledge of and experience in the history and characteristics of the antique firearms and ammunition he or she desires to collect.
(3) A holder of antique firearm collector licence may collect, keep, store and dispose of the antique firearms in accordance with the terms of, and at a place specified, in that antique firearm collector licence.
(4) A holder of a an antique firearm collector licence shall—
(a) keep in the manner and form to be prescribed by the appropriate authority, a register of his or her stock of firearms and all transactions relating to that stock with the names and addresses of persons involved in those transactions and the dates of those transactions;
(b) prior to any transaction relating to his or her stock of firearms, notify the appropriate authority of such transaction with the names and addresses of persons involved in those transactions, the nature of the transaction and the dates of those transactions.
(5) The provisions of section 4(6) shall not apply in the case of an application for an antique firearm collector licence.
(6) A person who fails to comply with subsection (4) commits an offence and is liable on summary conviction to a fine not less than $5,000 or to imprisonment for a term of not less than one year or to both.
(7) An antique firearm collector licence shall be in the form prescribed.