The way you read is exactly what I just posted above that I do. Locked gun in case and separate checked bag with my ammo in the original box with my clothes (non locked case).Ammunition must be packed in a separate, secure and strong container made of plastic, wood or metal. The original fibreboard carton can also be used but it is recommended that the carton be placed in a secondary package such as a re-sealable plastic container. To avoid shock movement, the properly packed ammunition must then be placed inside a suitcase and cushioned with clothing
The way I read the rules was gun in locked case (pelican) ammo in a seperate hard case in your checked luggage. I did not read where the ammo has to be locked too. The above is cut a pasted from Air Canada site.