Commonwealth Consolidated Acts Commonwealth Consolidated ActsASIC 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.