(1)  Where land has been declared as a private timber reserve in accordance with section 11 (1) , it shall be used only for establishing forests, or growing or harvesting timber in accordance with the Forest Practices Code and such other activities which the Authority considers to be compatible with establishing forests, or growing or harvesting timber.

(2)  Where land has been declared as a private timber reserve in accordance with section 11 (1) , any Act prescribed in the regulations, and the prescribed provisions of any Act prescribed in the regulations shall not apply to the private timber reserve.