CORPORATIONS ACT 2001 - SECT 1101D Destruction of records by ASIC

CORPORATIONS ACT 2001 - SECT 1101D

    ASIC may destroy or otherwise dispose of any document that is lodged under, or for the purposes of, a provision of this Chapter if:

  (a)   ASIC is of the opinion that it is no longer necessary or desirable to retain it; and

  (b)   it has been in the possession of ASIC for such period as is specified in the regulations, either generally or in relation to a particular document or class of documents.