I have no experience of Community Land Trusts, but I presume that the transaction would still be governed by s127 of the LGA which states:-
127 Disposal of land held by parishes and communities.
(1) Subject to the following provisions of this section, 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.
(2) 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.
There are special conditions for playing fields and public open spaces and these are the English regs which differ slightly from the Welsh.