It shall be lawful for the [F1Forestry Commissioners] with the consent of the Treasury and the verderers of the Forest of Dean to enter into and carry into effect agreements for causing any parcel of the waste in the Forest of Dean not exceeding one thousand pounds in value to be freed from the rights of common to which it may at the date of the agreement be subject and for causing by way of exchange any parcel of freehold land within the said forest forming part of the possessions and land revenues of the Crown and not being part of the said waste to be made part of the said waste and subject to the like rights of common and any such agreement upon the execution thereof shall have full force and effect according to the tenour thereof.

(1)All gales and leases granted upon trust to a committee nominated under section seven of the M1Dean Forest (Mines) Act 1904 shall vest subject to the same trusts in the committee as constituted for the time being and accordingly upon any alteration in the constitution of the committee any gale or lease vested upon trust in that committee shall without conveyance or assignment vest subject to the same trusts in the persons constituting the committee after the alteration.

(2)A minute of every nomination of a new member of a committee shall be entered in the books of the [F2Forestry Commissioners] in the same manner and subject to the same provisions as a minute of the transfer of a gale:

(3)This section shall be construed together with the M2Dean Forest (Mines) Act 1904 and shall be deemed to have had effect as from the commencement of that Act.