5AMeaning of holding an interest in a pharmacy

1. For the purposes of this Act, a person holds an interest in a pharmacy if the person has, or acquires, any direct or indirect estate or interest in the pharmacy (whether by way of shares in a company or by way of charge, loan, guarantee, indemnity, or otherwise) that affects the ownership, management, or control of the pharmacy practice carried on in the pharmacy.

2. For the purposes of subsection (1), a person acquires a direct or indirect estate or interest in a pharmacy if the acquisition is made in the person's name, or in the name of a nominee, or the acquisition is made by the person by means of any device or arrangement.

3. Despite subsections (1) and (2),—

4. a person does not hold an interest in a pharmacy merely by—
   1. making, in good faith and in the ordinary course of business to facilitate the carrying on of the pharmacy, any loan of money; or
   2. holding any security for repayment of that loan:
5. a person does not hold an interest in a pharmacy that is being carried on by an administrator of the estate of a deceased pharmacist, or by an administrator of the estate of a deceased operator of a pharmacy, merely by holding an interest in that estate.

6. Despite subsection (3), any covenant, condition, or stipulation, expressed or implied in any contract or agreement restricting the operator of a pharmacy in the purchase of pharmaceutical requirements or other stock in trade is to be treated, for the purposes of this Act, as a device or arrangement affecting the management and control of the pharmacy practice carried on in that pharmacy.