[wellylug] NZ laws on Data retention

[Rob Giltrap]

The big one is financial records for 7 years but there are other things 
as well.

Life insurance companies must keep all records for the life of the 
contract (which can be over 50 years).

If your company is US based you also have all the Sarbanes Oxley 
requirements which essentially say you must keep everything forever 
(okay a slight exaggeration but not far off).


Michael Dittmer (An Inside Job) wrote:

>Hi All
>
>I'm not sure who to ask on this since my parents can't remember, but does
>anyone know what the NZ data retention laws say or where I can look up the
>necessary legal documents?
>
>EG: how long does a company need to keep normal business data and / or
>financial data for?
>
>>From memory, financial data (eg: bank statements) needs to be kept for a
>minimum of 14 years and normal business data (eg: e-mail) need to be kept
>for a minimum of 7 years.
>
>Thanks
>
>Michael
>
>
>  
>