(1) Subject to subsection (2), the owner of a registered place, land on which a registered place is situated, or land on which a building considered by the National Trust to be of cultural heritage significance is situated, may enter into a covenant with the National Trust which binds the owner as to—
(a) the development or use of the place or the land; or
(b) the conservation of the place or any registered object at the place.
(2) A covenant under subsection (1) cannot be entered into without the prior approval of the Heritage Council.
(3) With the approval of the Heritage Council, a covenant may—
(a) be released by the National Trust; or
(b) be varied by agreement between the National Trust and all persons having an interest in the land burdened by the covenant who are bound by the covenant.
(4) If a land owner has agreed to enter into or vary a covenant with the National Trust under this section, the National Trust must give the Heritage Council—
(a) details of the proposed covenant or variations of the covenant; and
(b) a map of the land concerned and the surrounding area indicating—
(i) the names and addresses of the owners of the land in the vicinity of the land concerned; and
(ii) the purposes for which the land concerned and the surrounding land is used.