NSW - These are the requirements irrespective of firearms being in the car or not. Personally I transport ammo in locked containers out of sight as the Police have been known to pull over vehicles leaving gun shops. Not worth the risk of losing your license over a box of ammo so best keep it locked up at ALL times.
Just ammo in the car and no firearms was the question asked and the answer is that it has to be in a locked container as per the act. Your car is not of the type approved by the commissioner however the glove box providing it's locked is fine.
"What are the storage requirements in relation to ammunition?"
"Ammunition must be stored in a locked container, separate from the firearms -
sections 40 (1)(d) & 41(1)(c) of the Act. The ammunition storage may be
separate altogether, or may be a separate locked compartment or receptacle
within the firearms safe storage receptacle or safe."
Link to Act below.
http://www.legislation.nsw.gov.au/xref/inforce/?xref=Type%3Dact%20AND%20Year%3D1996%20AND%20no%3D46&nohits=yFirearms in vehicles
"What are the requirements for transporting Category A & B firearms? Firearms Registry"
Unlike the transportation of category C, D & H firearms and commercial
transportation, there are no legislative requirements for the transportation of
category A & B firearms.
However the general rule applied in section 39 of the Act applies and the
Commissioner has determined that 'all reasonable precautions' have been met
if category A & B firearms are conveyed in the same manner as category C, D
& H firearms.
NOTE: At no time should a firearm be left stored unattended in a motor vehicle
unless the firearms are stored in accordance with the requirements of category
C, D & H firearms and no other alternative safe storage is available.
Link to the relevant FAQ
http://www.police.nsw.gov.au/__data/assets/pdf_file/0018/131184/Transportation_FACT_Sheet_-_March_2012.pdf