(1) The PRA must prepare and issue a statement of its policy with respect to -

(a) the exercise of the power to designate under article 3;

(b) the discharge of its duty to review designations under article 5; and

(c) the exercise of the power to withdraw a designation under article 6.

(2) The statement of policy must include -

(a) an indication of the matters that the PRA may take into account in exercising its powers under article 3 or 6 or in discharging its duty under article 5; and

(b) the procedures that the PRA proposes to follow in relation to the exercise of its powers under article 3 or 6.

(3) The PRA may at any time alter or replace a statement issued under this article.

(4) If a statement issued under this article is altered or replaced, the PRA must issue the altered or replaced statement.

(5) A statement under this article must be published by the PRA in the way appearing to it to be best calculated to bring it to the attention of the public.