(1) The board of a port authority must, after consultation with the Commissioner for Public Sector Standards, prepare and issue an instrument setting out minimum standards of merit, equity and probity applicable to the management of the staff of the port authority.

(2) In complying with subsection (1) a board is to have regard to the principles set out in section 8 of the Public Sector Management Act 1994.

(3) Section 14(3) is not affected by the requirements of subsection (2).

(4) The Commissioner for Public Sector Standards may at any time recommend to a board any amendment that the Commissioner thinks should be made to an instrument issued under this section.

(5) A board may ¾

(a) amend an instrument issued under this section; or

(b) revoke it and substitute a new instrument,

but, except where subsection (4) applies, is to do so only after consultation with the Commissioner for Public Sector Standards.