Proprietors and financial interest holders: It is that time again - Annual Renewals and Annual Declarations

Pharmacy proprietors and financial interest holders are reminded of the following important dates:

1 June 2018 - Due date for completed Annual Declarations. 
30 June 2018 - Due date for payment of the Annual Renewal of Pharmacy Premises fee.

An Annual DeclarationFinancial Interest is the annual declaration that a holder of a financial interest in a pharmacy business must make to the Council to disclose that interest on the Register of Pharmacies.
An Annual Renewal is the annual payment that a pharmacy must pay in order to maintain current approval of the Council and to remain on the Register of Pharmacies.

The Register of Pharmacies is a register that lists all approved pharmacy businesses, and all financial interest holders in those pharmacy businesses. It is a requirement of the Health Practitioner Regulation National Law (NSW) (‘the Law’) that the Register is maintained accurately.  To do this, the Council requires all financial interest holders in pharmacies to submit an Annual Declaration, and all pharmacies to pay an Annual Renewal fee.

A financial interest holder is someone who has a direct or indirect monetary or financial interest in a pharmacy business. It includes pharmacist proprietors, pharmacists who are partners in a pharmacists’ partnership that owns a pharmacy, and pharmacists who are shareholders or directors in a pharmacists’ body corporate that owns a pharmacy.

Annual Declarations

The Annual Declaration is a legislative requirement of each financial interest holder in a pharmacy. Annual Declarations are due on 1 June each year, and cover the preceding return period from 1 May to 30 April. These notices are posted out in April, to all persons who held a financial interest in a pharmacy business at any time throughout the preceding year. The Annual Declaration must be completed for each pharmacy in which the holder held a financial interest during that preceding 12 month return period, whether or not the holder has since sold, or otherwise divested themselves of that interest.

If, when completing your Annual Declaration you are unsure of the ownership structure in place, this information can be obtained by conducting a search from the Council's website or alternatively check the name displayed at the front of your pharmacy.

If you own the pharmacy in Pharmacists’ Body Corporate (company structure) you will need to state the name of the Pharmacists’ Body Corporate otherwise the Declaration will be returned to you to complete.

Failure to submit a completed Annual Declaration by the due date is a contravention of Clause 15 of Schedule 5F of the Law and considered an offence.

Annual Renewals

The Annual Renewal fee is payable by the pharmacy. The Council sends out Annual Renewal Notices to the ‘proprietor’ of each pharmacy in NSW every year in May. Payment of the renewal fee is due by 30 June to cover the following 1 July to 30 June period. If this is not received by 30 June, your pharmacy will no longer be subject to current approval of the Council.

  • Annual renewal payments made by the 30 June due date will result in the approval of pharmacy premises for a further 12 month period to 30 June the following year
  • Annual Renewal payments made during July will incur a late fee. Payment of the renewal fee and the late fee will result in the approval of pharmacy premises for a further 12 month period to 30 June the following year
  • Annual Renewal payments not received by 31 July - payment will not be accepted after 31 July. Approval of pharmacy premises will be revoked, the pharmacy will be removed from the Register of Pharmacies and the Department of Human Services/Medicare will be notified. Proprietors wishing to obtain a current approval will be required to submit an application for a new pharmacy.

Once renewed, an Approval of Pharmacy Premises Certificate valid for the approval period will be forwarded to the pharmacy. You may choose to display the certificate in your pharmacy as evidence of current Pharmacy Council approval. This document may be required by your wholesaler as evidence of current approval of pharmacy premises, there are no pharmacy licenses issued in New South Wales.

It is important that you notify the Council when changing the postal address details of your pharmacy. Doing so will ensure that the annual renewal notice is posted to the correct address.

Renewal of pharmacy registrations can be completed online through the Council’s website. Users will be requested to login using the username and password provided with the renewal notice.