Nope they are meant to get sent them if the school closes down. But a lot of places they are just dumped in an office and it can be a right bitch to get access to them to get them to be sent to the CAA.
If you are lucky one of the instructors will stick them in their car and take them home and send them on once most of the locals have transferred to another school. Strictly this isn't legal but is actually the best outcome.
Some legal types see them as an asset from the school with value and try and extract some value from them. And it can take the CAA to get involved to get them back.
After you have completed some ones course I think the school needs to hold onto them for 5 years and then they can dispose of them. And the CAA will never see them unless the pilot has an incident.