A collectors licence is subject to the following conditions:
(a) a firearm in the collection manufactured on or after 1 January 1900, or that is a prohibited pistol, must be rendered incapable of being fired in the way prescribed under the regulations;
(b) the licensee must not possess any ammunition for any firearm in the collection;
(c) the licensee must not restore any firearm in the collection to a state in which the firearm can readily be fired;
(d) the collection must not contain any category C or category D firearm unless the firearm has been rendered permanently inoperable;
(e) subject to sections 191 and 227, any category C or category D firearm must not be sold or otherwise disposed of otherwise than to another licensed collector;
(f) that no ammunition capable of being discharged from a firearm to which a collectors licence relates is in the possession of the holder of the licence unless the person holds a collectors licence in relation to the ammunition or another licence under this Act authorising possession of a firearm from which the ammunition is capable of being lawfully discharged;
(g) subject to section 142, the licensee is not authorised to discharge a firearm that is part of a collection.