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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 December 2009 - onwards
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172. Limitations on certain dealings in land, etc.

(1) If a person owns charged land and -

(a) the person -

(i) owns other land (in this subsection referred to as the "relevant land") or holds an option to acquire such land, or

(ii) holds an interest in other land, or an option to acquire such an interest,

and

(b) unless the relevant land, the interest or the option were owned or held (as the case requires) by NAMA, the charged land would be unable to realise its full value for development, sale, leasing or any other use,

the person shall not deal with the relevant land, the interest or the option without giving reasonable written notice to NAMA.

(2) A dealing in contravention of subsection (1) is voidable at NAMA's option except against a person who has in good faith and for value acquired an interest in the land concerned.

(3) A person who is the debtor in relation to an acquired bank asset, who is a person referred to in any of subparagraphs (i), (ii), (iii), (v) or (vi) of section 70 (1) (b) or who is a person on whose behalf the d

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