system date

i just got this code from internet..but i am not able to understand..plz can some one explain me this code
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void retrieve_time(int* day, int* month, int *year)
	{
	    time_t t=time(NULL);
	    struct tm* timeinfo=localtime(&t);
	    *day=timeinfo->tm_mday;
	    *month=timeinfo->tm_mon+1;
	    *year=timeinfo->tm_year+1900;
	}
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