New pharmacy business ownership legislation
On 19 March 2024, the Pharmacy Business Ownership Bill 2023 was passed by Parliament. After royal assent, it will become the Pharmacy Business Ownership Act 2024. The Pharmacy Business Ownership Act 2024 (the new Act) is not yet in force.
When it commences, the new Act will repeal and replace the current Pharmacy Business Ownership Act 2001 (the 2001 Act). The new Act will:
- establish the Queensland Pharmacy Business Ownership Council as a statutory body responsible for regulating pharmacy business ownership in Queensland
- establish a licensing framework for the ownership of, and interests in, pharmacy businesses
- clarify who may own or hold an interest in a pharmacy business
- retain the current limits on the number of pharmacy businesses that a person may own or hold an interest in
Please see the Explanatory Notes for the Pharmacy Business Ownership Bill for more information about the legislation.
When will the new Act commence?
The new Act will commence on a date set by proclamation to allow time for implementation of the new Act. A date has not yet been set. The new Act is expected to come into force late 2025.
Queensland Health encourages existing owners to take steps now to consider the application of the new Act to your business to ensure you have sufficient time to adjust your ownership structure if needed.
As a pharmacy owner, what do I need to do?
You must continue to comply with all requirements in the 2001 Act until the new Act comes into force.
The new Act will clarify who may own and hold an interest in a pharmacy business in Queensland.
Queensland Health has developed frequently asked questions (PDF 507 kB) to assist owners transitioning to the new Act.
Please note, Queensland Health cannot provide advice about how the new Act will apply to individual businesses. It is recommended pharmacy owners seek independent advice.
Need more information?
For more information about the new Act, email PBO_implementation@health.qld.gov.au.
For any queries about current pharmacy business ownership regulation, email pharmacyownership@health.qld.gov.au.