137Decision to investigate

#### 137 Decision to investigate (1) The Regulator may investigate life insurance business of a body corporate that is a life company, or business of a body corporate that is a registered NOHC, if: (a) the Regulator has given the body a show cause notice in respect of the business; and (b) the body has consented to an investigation under this Division of that business. (2) The Regulator may investigate life insurance business of a body corporate that is a life company, or business of a body corporate that is a registered NOHC, if: (a) the Regulator has given the body a show cause notice in respect of the business; and (b) the period specified in the notice for the purpose of paragraph 135(2)(b) has expired; and (c) either: (i) the body has not given the Regulator a statement in accordance with the notice; or (ii) after having considered the statement given to the Regulator by the body, the Regulator is satisfied of the existence of the ground, or a ground, set out in the show cause notice; and (d) the Regulator is satisfied that: (i) if the body is a life company—it is in the best interests of owners of policies issued by the company that the business be investigated under this Division; or (ii) if the body is a registered NOHC—it is in the public interest that the business be investigated under this Division. (3) To avoid doubt, this section applies to a life company that is, or becomes, a Chapter 5 body corporate (within the meaning of the Corporations Act 2001) in the same way as the section applies to any other life company.