Insurance undertakings will be obliged to personally notify customers whose policies are valued at €500 or more that they have an unclaimed policy with that undertaking and what steps the customer must take to reactivate the policy or make a claim under it. Insurance undertakings must, for the sake of all other customers affected by the scheme, place annual notices in two or more national newspapers. These annual advertisements, the first of which is scheduled to take place in March, will generate public awareness of the scheme. The Minister for Finance believes, given the success of the same procedures under the 2001 Act, that this will encourage policyholders or their heirs or executors to make contact with the insurance companies to see whether they stand to gain under the terms of a policy held at the institution concerned. Notification procedures are provided for in sections 8 and 9.