Subject to the following provisions of this section, and to those of the Playing Fields (Community Involvement in Disposal Decisions) (Wales) Measure 2010, a parish or community council, or the parish trustees of a parish acting with the consent of the parish meeting, may dispose of land held by them in any manner they wish.
Except with the consent of the Secretary of State, land shall not be disposed of under this section, otherwise than by way of a short tenancy, for a consideration less than the best that can reasonably be obtained.
Subsections (2A) and (2B) of section 123 above shall apply in relation to the disposal of land under this section as they apply in relation to the disposal of land under that section, with the substitution of a reference to a parish or community council or the parish trustees of a parish for the reference to a principal council in the said subsection (2A).
Capital money received in respect of a disposal under this section of land held for charitable purposes shall be applied in accordance with any directions given under the Charities Act 2011.
For the purposes of this section a disposal of land is a disposal by way of a short tenancy if it consists—
(a) of the grant of a term not exceeding seven years, or
(b) of the assignment of a term which at the date of the assignment has not more than seven years to run.