Well sorry to rain on your parade but all you have to do when you fill out the CCTV registration form from NSW police is state how long your Image Retention Period is IE how long you keep them before deleting .The police or lincense DONT tell you how long you have to hold the material and no law says it either but its recommended 14 days for any court material that may be needed.then again if i choose to hold it for 7 days thats my decision.
if you doubt me then go to Level 10B, Police Headquarters, 1 Charles Street, Parramatta NSW and ask because thats where you get your CCTV registered before use or you are in deep trouble if you use CCTV and ist not registered with the police.
UMMMMMMMMM how much space would be required to keep lifelong footage of every CCTV
Reply = UMMMMMMMMMMMMMMM using a PM32.......700hours is about 1MB