The holding of a financial interest, whether as an owner or otherwise, in pharmacies in NSW Australia, is restricted to registered pharmacists.
Clause 14 (1) of Schedule 5F of the Health Practitioner Regulation National Law (NSW) (the National Law (NSW)) requires us to maintain a Register of Pharmacies in NSW. 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 National Law (NSW), a person cannot carry on a pharmacy business in NSW unless the premises have a current approval and all the holders of the financial interest in the pharmacy business are registered in the National Register of Pharmacists, maintained by the Australian Health Practitioner Regulation Agency.
Subject to limited exceptions, only a registered pharmacist, a partnership of registered pharmacists and a pharmacist's body corporate (as defined in the National Law (NSW)) can hold a financial interest in a pharmacy business in NSW. These entities can hold a financial interest in up to five pharmacies in NSW. The definition of 'financial interest' is contained in clause 2, Schedule 5F of the National Law (NSW) and it includes the proprietary interest of a shareholder, member, director of a pharmacist's body corporate and the proprietary interest of a trustee or beneficiary in a pharmacy business.
Any acquisition or disposal of a financial interest in a pharmacy business must be notified to the Pharmacy Council of NSW. 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.