I have been talking with Roy Smith who is the member for legislative council, and he has informed me that he has taken this matter up with the Police Ministry and received the reply "the NSW Government had no plans in regard to these calibers" but still believes that this matter could be going through the Federal level through the Ministerial Committee on Police and Emergency Management (MCPEMP).
I advise you contact your local member and don't just sit back and hope this doesn't come about, or that someone else will deal with it. This my friend is plain and simple GUN CONTROL. It started with semi-autos being banned, and anyone who believes that was a result from the Port Arthur massacre is living in a dream land, the documents to ban semi-autos had been filed months before, that event just gave it the final shove that was need to pass the law.
338LM getting banned is just the start, next it will be anything over 300WM, then slowly but surely it will work its way down to no more, a total disarmament of the public. We are not lucky enough to have a constitutional right to bare arms, but we have the freedom to vote, the only power that cant be taken away.