I think that the current provisions provide you a way of removing firearms from your house if you feel that you need time for your health. I think it provides you a way that you could lend these or transport these to a different location for a certain time period.
If you're asking the question of whether it allows you to track the mental illness of someone and whether the CFO gets involved to make sure the firearm should go back to that individual, I do not think the current provisions are written like that. However, it does allow you, as a firearms owner of handguns, with these regulations, to at least be able to temporarily store these somewhere else.