http://office.microsoft.com/en-in/sharepoint-server-help/configuring-in-place-records-management-HA102772378.aspx
Configure in place records management for a site collection
Note You must first activate the in place records management feature at the site collection level before you can complete this procedure.
- Navigate to the top level site.
- Click Settings , and then click
Site Settings
- Under Site Collection Administration, click Record declaration settings.
- On the Record Declaration Settings page, in the Record Restrictions section, select the option that specifies the kind of restrictions that will be placed on an item when it is declared a record. This setting does not affect items already
declared as records.
- No Additional Restrictions
This restriction is useful if you want records to have a separate retention policy than non-records, but dont want to block the records from being deleted or edited.
- Block Delete This is the default restriction for the Records Center.
- Block Edit and Delete This restriction is useful if you want to completely lock a document so that it cannot be edited or deleted. A padlock icon is associated with the document to visually show that the item is locked.
Applies to
SharePoint Online Enterprise (E3 & E4), SharePoint Online operated by 21Vianet - Enterprise (E3 & E4), SharePoint Server 2013 Enterprise