The holding of a pecuniary interest, whether as an owner or otherwise, in pharmacies in New South Wales Australia, is restricted to registered pharmacists.
Clause 14 (1) of Schedule 5F of the Health Practitioner Regulation National Law (NSW) No 86a (the Law) requires the Pharmacy Council of New South Wales to maintain a Register of Pharmacies in New South Wales. This Register includes particulars of approved premises for the carrying on of a pharmacy business by a pharmacist and particulars of the registered holders of pecuniary interests in the pharmacy business. Pursuant to the Law, a person cannot carry on a pharmacy business in New South Wales unless the premises have a current approval and all the holders of the pecuniary interest in the pharmacy business are registered in the National Register of Pharmacists, maintained by the Australian Health Practitioner Regulation Agency (AHPRA).
Subject to limited exceptions, only a registered pharmacist, a partnership of registered pharmacists and a pharmacists' body corporate (as defined in the Law) can hold a pecuniary interest in a pharmacy business in New South Wales. These entities can hold a pecuniary interest in up to five (5) pharmacies in New South Wales. The definition of 'pecuniary interest' is contained in clause 2, Schedule 5F of the Law and it includes the proprietary interest of a shareholder, member, director of a pharmacists' body corporate and the proprietary interest of a trustee or beneficiary in a pharmacy business.
Any acquisition or disposal of a pecuniary interest in a pharmacy business must be notified to the Pharmacy Council of New South Wales. The Council also deals with applications for a relocation of existing pharmacy premises, approval of new pharmacy premises and approval of a professional services room in association with a pharmacy business. Please contact the Council for specific requirements and standards for pharmacies and associated professional services rooms.
The Pharmacy Council of New South Wales can be contacted at:
Street address: Level 6, North Wing
477 Pitt Street
SYDNEY NSW 2000
Postal address: Locked Bag 20
HAYMARKET NSW 1238
Telephone: 1300 197 177