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Parliament overwhelmingly votes for tougher new gun laws in wake of Christchurch terrorist attacks

New Zealand’s gun law reform has passed its final hurdle in Parliament tonight.

The Third Reading of the Arms Amendment Act saw all MPs except ACT’s David Seymour vote in favour of the gun changes, less than a month after the Christchurch terrorist attack on March 15 where 50 people were killed.

The final vote came in at 119 for the amendment and one against.

The changes to New Zealand’s gun laws are set to include a ban on semi-automatic weapons and military style semi-automatics, a ban on parts, magazines and ammunition that could be used for modification into a semi-automatic and a ban on pump-action shotguns with more than a five shot capacity.

The amnesty period for unlawful weapons, magazines and ammunition to be handed in will be until September 30.

Details around the nationwide gun buyback were released today.

Independent advisors will develop a price list for New Zealand's gun buyback scheme, with high capacity magazines and parts will be included in compensation to gun owners surrendering their weapons.

"We are ultimately here because 50 people died and they do not have a voice," Prime Minister Jacinda Ardern said today during the Third Reading of the Arms Amendment Bill.

"We in this House are their voice and today we have used that voice wisely."

However, ACT party leader Seymour told 1 NEWS he was concerned by the restriction of compensation "to only those gun owners with appropriate firearms licences".

"If a significant number of weapons aren't handed in, we risk creating a large black market of dangerous weapons without any regulatory oversight. That may be a more dangerous world than we had prior to March 15."

To become law, the bill still needs to be granted Royal assent by Governor-General Dame Patsy Reddy.

It is anticipated the gun law reform will become law on Friday.