National Asset Management Agency Act 2009

89.

Amendment of acquisition schedule.

89.— (1) After service of an acquisition schedule on a participating institution, but before the earliest acquisition date specified in the acquisition schedule, NAMA may—

( a) revoke the acquisition schedule, or

( b) amend the acquisition schedule in relation to the bank asset in any way.

(2) Without prejudice to the generality of subsection (1) (b) , NAMA may amend an acquisition schedule in any of the following ways:

( a) to omit or add a bank asset;

( b) to alter the description of such an asset;

( c) to alter the acquisition date of such an asset;

( d) to alter the acquisition value of such an asset;

( e) to alter any of the terms and conditions of the acquisition schedule;

( f) to correct an obvious error or omission.

(3) When NAMA has amended an acquisition schedule (in this subsection called the “original acquisition schedule”), NAMA shall serve an amended acquisition schedule on the participating institution. Where NAMA does so, the amended acquisition schedule has effect in place of the original acquisition schedule.

(4) When NAMA has revoked an acquisition schedule, NAMA shall serve on the participating institution a notice of the revocation. The revoked acquisition schedule is of no effect from the date of that service.

(5) References in this Act to an acquisition schedule include an acquisition schedule that has been amended in accordance with this section.