Regular static axisymmetric vacuum solutions of Einstein's field equations representing the exterior field of a finite thin disc are found. These are used to describe the slow collapse of a dise-like object. If no conditions are placed on the matter, a naked singularity is formed and the cosmic censorship hypothesis would be violated. Imposition of the weak energy condition, however, prevents slow collapse to a singularity and preserves the validity of this hypothesis. The validity of the hoop conjecture is also discussed.