(1) If the Court is satisfied, after considering the accounts and other relevant matters, that -
(a) it is unlikely that the sum secured by the charge would be recovered were the land to be sold within 3 months after the application, and
(b) there is no reasonable prospect of the chargor redeeming the charge concerned,
the Court shall make an order (in this Part referred to as a "vesting order") vesting in NAMA, or a NAMA group entity nominated by NAMA, the interest of the chargor, subject to any undertaking under section 152(2), in the land concerned.
(2) If the Court makes a vesting order, the Court shall also -
(a) determine the amount likely to be realised were the land to be sold within 3 months after the application, and
(b) make an order for possession of the land concerned in favour of NAMA or the nominated NAMA group entity.