Explain the retention of electronic records as per section 7 of the Information Technology Act, 2000.

Section 7 of Information Technology Act, 2000 provides for the retention of records in electronic format. It states that wherever any law provides that the documents, records or information shall be retained for any specific period, then that requirement shall be deemed to be have been satisfied if such documents, records or information are retained in electronic form, if - The Information contained therein remains accessible so as to be usable for a subsequent reference; The electronic record is retained in the format in which it was originally generated, sent or received or in a format which can be demonstrated to represent accurately the information digitally generated, sent or received; The details which will facilitate their identification of the origin, destination, date and time of dispatch or receipt of such electronic record are available in electronic record. Provided that this clause does not apply to any information, which is automatically generated solely for the purpose of enabling and electronic record to be dispatched or received. These provisions will not apply to any law that expressly provides for the retention of documents, records or information in the form of electronic records.