"…Mainstream
reporting on the actual contents of the agreement has been minimal,
focusing primarily on the "safety" aspects of the deal. The
agreement goes far beyond the imposition of safety standards, however.
Essentially, the agreement performs two major tasks: first, it enacts
significant modifications to federal gun control laws and imposes new
restrictions long sought by gun control activists, including bans on
cheap, concealable handguns; and, second, it nationalizes the operations
of gun manufacturers and dealers and presses them into service as law
enforcement agents…
…In order to
become an authorized dealer of S&W or any other manufacturer who
becomes a party to the agreement, the dealer must agree not to sell any
"semi-automatic assault weapons" as defined in the federal
assault weapon ban. Please take note what has just happened. The 1994
assault weapon ban sunsets in 2004. Its prohibitions cease to be
effective unless the law is renewed by act of Congress. The S&W
agreement has just made the ban on "semi-automatic assault weapons" and
large capacity magazines permanent. The agreement requires that dealers
carry at least $1 million of liability insurance, that all firearms be
secured in "a locked fireproof safe or vault" other than
during business hours, keep firearms in locked display cases during
business hours except to show a firearm to a customer, pass a
comprehensive written exam which shall be developed by the manufacturers
in consultation with the ATF and approved by the Oversight
Committee" and send all employees to annual training sessions
developed by the manufacturers and similarly approved.
Authorized dealers
are also required to electronically record make, model caliber or gauge
and serial number of all firearms that they acquire and institute an
electronic inventory monitoring system, perform an inventory check once
a month and maintain the results of the report in a secure location…
…The dealer
requirements implement three other substantive gun control restrictions.
First, dealers pledge not to transfer any firearm prior to receiving
notice from NICS. Current law permits dealers to complete a sale if they
have not received notice within three days.
This
"loophole" in the Brady act has just been closed. No sales
until the government declares that the buyer is permitted to purchase a
firearm. This permits the federal government to implement a discretionary
de facto waiting period because the sale cannot take place until the
government gets around to completing the background check.
Next, the dealers
agree that they will not sell or transfer firearms to individuals unless
they "have demonstrated that they can safely handle and store
firearms through completion of a certified firearms safety training
course or by having a certified firearms safety examination."
Finally, a person
who wants to buy more than one handgun at a time will have to wait 14
days after he purchases the first to pick up the remaining guns…."