Owning a magazine of greater than 10 rounds is an offense that will get you up to 5 years. The legislation is appallingly worded, as it is circular. Shooting organizations have started to generate a legal opinion so we have a greater understanding. Normally this takes a lawyer s few days. Estimes on the new legislation is that it will take over 2 WEEKS. Government is aware that the compensation in austrslia had 20% compliance and they offered 125% market value immediately. Now information released here yet. It gets better. There us ZERO incentive for criminals to hand in firearms. Previously illegal firearms and those without a firearms license are not elligable. Shout out to ar15.com who crashed the nz police website regarding the hand in.