Police Minister Stuart Nash says the Government's gun buyback scheme would exclude parts and dealers.

The current law states that the Government must pay compensation for the value of all banned weapons and for all parts delivered to police.

But Newshub understands that as of Wednesday afternoon, the Government has no plans to change this section of the law - despite saying they won't be compensating for parts.

Brent Millard, a competitive shooter, owns soon-to-be-banned guns - military-style semi-automatics (MSSAs) and assault rifles - and expects to be paid for his gear in the buyback scheme, including the parts.

"If they don't pay for the firearms and the parts or the accessories, then they're not going to have them turned in," he said.

Asked on Wednesday if the Government will include parts in the buyback scheme, Nash said: "At this stage, we're not looking to do that. We've made it clear at this point that we're only going to buy back firearms."