This section does not apply to a person who purchases a regulated firearm as a gift if: the regulated firearm is a gift to a resident of the State; and both the purchaser and recipient of the gift comply with the requirements of this subtitle that relate to the possession, sale, rental, receipt, transfer, or purchase of a regulated firearm; or if the gift is in the form of a gift certificate, only the recipient of the gift need comply with the requirements of this subtitle that relate to the possession, sale, rental, receipt, transfer, or purchase of a regulated firearm. If the regulated firearm is a gift to the purchaser’s spouse, parent, grandparent, grandchild, sibling, or child, the recipient shall: complete an application to purchase or transfer a regulated firearm; and forward the application to the Secretary within 5 days after receipt of the regulated firearm. The Secretary shall waive the $10 application fee required under § 5-118(a)(2) of this subtitle for a gift purchased in accordance with this subsection. A person may not knowingly or willfully participate in a straw purchase of a regulated firearm.