National Asset Management Agency Act 2009

167.

Court may make compulsory transfer order.

167.— (1) Where NAMA or a NAMA group entity has entered on and taken possession of land in accordance with section 165 and the Court is satisfied that—

( a) the several estates or interests in the land have not been conveyed or transferred to NAMA or the nominated NAMA group entity,

( b) it is necessary, in connection with the purposes for which NAMA has been authorised to acquire the land compulsorily, that the acquisition of the land should be completed, and

( c) NAMA has made an offer in writing to each person having an estate or interest in the land who has furnished sufficient particulars of that estate or interest to enable NAMA to make an offer for it,

then the Court may make an order (in this Chapter referred to as a “compulsory transfer order”) vesting the land in NAMA or the nominated NAMA group entity subject to any terms and conditions that the Court thinks fit.

(2) After the Court makes a compulsory transfer order, NAMA shall within 7 days after having received notification from the Court of the making of the order—

( a) publish in a newspaper circulating in the area of the land to which the order relates a notice stating that the order has been made, describing the land and naming a place where a copy of the order may be seen at all reasonable times, and

( b) serve on every person appearing to NAMA to have an estate or interest in the land a notice that the order has been made and the effect of the order.