An information policy that resides on a site, is applied to a content type, or is applied to a list.
Assembly: Microsoft.Office.Policy (in Microsoft.Office.Policy.dll)
An information management policy is a set of rules for a certain type of important content. Policy enables administrators to control and evaluate who can access the information, how long to retain information, and how effectively people are complying with the policy itself.
Logically, each policy is a collection of instruction sets for one or more policy features. For each policy feature that you want to include in a policy, you include an instruction set, called a policy item, in the policy. A policy item contains the settings for only one policy feature.
For more information about information policies and policy features, see Introduction to Information Management Policy.