The appropriate Minister may by regulation require that parties to any sale of land which immediately before the completion of the transaction was being used for agriculture, or to any grant, assignment or surrender of a tenancy of such land for an interest not less than that of a tenant for a year, shall within the period from the completion of the transaction prescribed by the regulations furnish to him, in such manner as may be so prescribed, information as to the names and addresses of the parties to the transaction and the situation and extent of the land affected by it.

Regulations under subsection (1) above shall be made by statutory instrument and shall be laid before Parliament forthwith after being made, and if either House of Parliament, within the period of 40 days beginning with the day on which the regulations are laid before it, resolves that an Address be presented to Her Majesty praying that the regulations be annulled, no further proceedings shall be taken under the regulations after the date of the resolution, and Her Majesty may by Order in Council revoke the regulations, so, however, that any such resolution and revocation shall be without prejudice to the validity of anything previously done under the regulations or to the making of new regulations.