Upcoming Pharmacy Business Ownership Changes in Queensland

Emily Pritchard, current as of: 7 April 2025.

In 2024, the Pharmacy Business Ownership Act 2024 (Qld) (the Act) was passed by Parliament to supersede the current Pharmacy Business Ownership Act 2001 (Qld).

The Act seeks to clarify and modernise rules relating to pharmacy business ownership in Queensland. Key changes, including in relation to pharmacy business ownership in companies and trusts, are expected to come into effect this calendar year (no earlier than 1 July). 

We consider that the majority of existing pharmacy structures in Queensland will need to amend their constituent documents (trust deeds and company constitutions) as a result.

Get in touch with our legal team or read below to learn more about the Act.

Pharmacy Business Ownership Act 2024 (Qld)

The Act clarifies existing requirements in relation to pharmacy ownership as well as introduces the concept of Material Interest.

Pharmacy ownership is restricted to:  

• practising pharmacists;  
• companies whose directors and shareholders are all practising pharmacists; 
• companies owned by practising pharmacists (majority shareholding and all voting shares) and their close adult relatives (spouse or adult child). 

A person can only hold a Material Interest in a pharmacy business if they are a practising pharmacist or a close adult relative of a practising pharmacist who holds an interest in the business.  

A person holds a Material Interest in a pharmacy business if they:  

• ​are a shareholder of a company that owns a pharmacy business;  
• are a beneficiary of a trust that owns a pharmacy business; or  
• have another interest in a pharmacy business that entitles them to receive consideration according to profits or takings of the business. 

Impact on Companies and Trusts

These changes mean that: 

• new companies and trusts, established for the purpose of owning Queensland pharmacy business’, need to comply with the requirements outlined in the Act from its commencement (expected to be this calendar year, although no earlier than 1 July);
   
• existing arrangements, where pharmacy business’ are currently owned in companies or trusts, should be reviewed and constituent documents amended to ensure compliance with the Act. Whilst some transitional arrangements apply, we recommend amendments are undertaken as soon as possible to ensure compliance.   

What Next?

These are significant changes, meaning for many existing pharmacy structures in Queensland — especially those involving discretionary trusts and companies — action is required.

It is highly likely that most of your clients’ trusts and company structures that have interests in Queensland pharmacy businesses will need to consider an amendment of their constituent documents (constitutions and trust deeds) to restrict shareholders and beneficiaries in line with the rules introduced by the Act.

The Acis legal team is here to support you through these changes and help you and your clients comply with the Act and avoid penalties.

Need to update your clients’ constitutions and trust deeds, or speak to a member of the Acis team?

Acis does not provide advice in relation to commercial law, taxation, duty, company law or any other matter. We do not purport to provide advice nor should you construe anything in any correspondence with us, or material provided by us, as advice of any kind.