The Arms Trade Treaty
The landmark Arms Trade Treaty (ATT), regulating the international trade in conventional arms - from small arms to battle tanks, combat aircraft and warships - will enter into force on 24 December 2014.
The English text:
https://unoda-web.s3.amazonaws.com/wp-content/uploads/2013/06/English7.pdf
And yes, there is language in the treaty to restrict the private ownership of "small arms" as the UN sees fit.
Article 7
Export and Export Assessment
1.
If the export is not prohibited under Article 6, each exporting State Party, prior
to authorization of the export of conventional arms covered under Article 2 (1) or of
items covered under Article 3 or Article 4, under its jurisdiction and pursuant to its
national control system, shall, in an objective and non
-
discriminatory manner,taking into account relevant factors, including information provided by the
importing State in accordance with Article 8 (1), assess the potential that the
conventional arms or items:
(a)
would contribute to or undermine peace and security;
(b)
could be used to:
(i)
commit or facilitate a serious violation of international humanitarian law;
(ii)
commit or facilitate a serious violation of international human rights law;
(iii)
commit o
r facilitate an act constituting an offence under international conventions or protocols relating to terrorism to which the exporting State is a Party; or
(iv)
commit or facilitate an act constituting an offence under international conventions or protocols relating to transnational organized crime to which the exporting State is a Party