Frank Fahey (Galway West, Fianna Fail)

It would probably not be possible for the undertakings to publish on the day of the public notice the number of unclaimed policies they hold. Section 9(1) does not require the companies to have identified all unclaimed policies by that date. Each company will merely have to establish by that date, usually the first weekday in October in each year, that it holds at least one such policy. If any such policy meets the criteria of section 9(1), where a policy is below €500 and is deemed non-correspondent, and the undertaking has previously tried unsuccessfully to make contact with the policyholder, then the undertaking must place a public notice in relation to those policies. In each case there seems to be little value in publishing the detailed information. It is enough that the public be made aware that all or most of the life assurance undertakings hold unclaimed policies. For those reasons I do not propose to accept the amendment.