(1)Section 4(1) shall apply as if the following were included among the events listed—
(a)the grant by Her Majesty out of demesne land of an estate in fee simple absolute in possession, otherwise than under section 79;
(b)the grant by Her Majesty out of demesne land of an estate in land—
(i)for a term of years absolute of more than seven years from the date of the grant, and
(ii)for valuable or other consideration, by way of gift or in pursuance of an order of any court.
(2)In subsection (1)(b)(ii), the reference to grant by way of gift includes grant for the purpose of constituting a trust under which Her Majesty does not retain the whole of the beneficial interest.
(3)Subsection (1) does not apply to the grant of an estate in mines and minerals held apart from the surface.
(4)The Lord Chancellor may by order—
(a)amend this section so as to add to the events in subsection (1) such events relating to demesne land as he may specify in the order, and
(b)make such consequential amendments of any provision of, or having effect under, any Act as he thinks appropriate.
(5)In its application by virtue of subsection (1), section 7 has effect with the substitution for subsection (2) of—
“(2)On the application of subsection (1), the grant has effect as a contract made for valuable consideration to grant the legal estate concerned”.