(1) NAMA may apply to the Court for a vesting order if -
(a) an acquired bank asset includes a charge over land,
(b) the chargee's power of sale has become exercisable, and
(c) NAMA forms the view that it is unlikely that the sum secured by the charge can be recovered by a sale within 3 months after the application.
(2) An application under subsection (1) shall, where there is a charge secured over the land concerned that has priority to the charge referred to in paragraph (a) of that subsection, contain an undertaking by NAMA to discharge that charge in accordance with section 154.
(3) An application under subsection (1) shall be supported by an affidavit to which is exhibited evidence -
(a) as to the price likely to be realised, within 3 months after the application, by a sale of the land concerned, and
(b) of any other interests in the land, including any prior charge referred to in subsection (2).
(4) NAMA shall serve notice of the application on -
(a) the chargor concerned,
(b) an
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