Person ceasing to be a close family member of a pharmacist (s. 58(4)(a))
17 Person ceasing to be a close family member of a pharmacist (s. 58(4)(a))
For the purposes of section 58(4)(a) of the Act, a proprietary interest that is an interest in a partnership or a pharmacist controlled company held by a person who has ceased to be a close family member of a pharmacist due to death, divorce or separation is to be dealt with as follows —
the person who holds the proprietary interest is to divest himself or herself of the interest before the end of the period approved by the Board under section 58(4)(b);
if the person has ceased to be a close family member of the pharmacist due to divorce or separation, then the interest is to be redeemed by the company or partnership, in accordance, where relevant, with any provisions of the constitution of the company or rules of the partnership.
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