Commonwealth Numbered Acts

LIFE INSURANCE ACT 1995 No. 4 of 1995 - SECT 137

137. (1) The Commissioner may investigate life insurance business of a life
company if:

   (a)  the Commissioner has given the company a show cause notice in respect
        of the business; and

   (b)  the company has consented to an investigation under this Division of
        that business.

(2) The Commissioner may investigate life insurance business of a life company
if:

   (a)  the Commissioner has given the company 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 company has not given the Commissioner a statement in
               accordance with the notice; or

        (ii)   after having considered the statement given to the Commissioner
               by the company, the Commissioner is satisfied of the existence
               of the ground, or a ground, set out in the show cause notice;
               and

   (d)  the Commissioner is satisfied that it is in the best interests of
        owners of policies issued by the company that the business be
        investigated under this Division.