Agreements for the payment of workmen’s compensation, which have been or shall have been on file for eight or more years, may be destroyed by the Division of Workmen’s Compensation; provided, the Commissioner of Labor and Industry shall approve such destruction. Any agreement, however, covering a period greater than eight years shall be kept on file for the full term of the agreement.

L.1953, c. 94, p. 1022, s. 3.