gundoc is correct in what he says. I will also add that there is no reason why ammunition can't be locked in the separate smaller compartment that many gun cabinets have.
If you have any issues with the police vettor, constable or AO regarding security, ask them to show you in the Arms Act or the Arms regulations where the relative law is that they're trying to enforce. Of course, it's always a good idea to have firearm security that exceeds current requirements. The Arms Act and Arms Regulations are very dated in several areas when it comes to security.
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