This image shows the Create Policy dialog box with these fields:

• Name: Enter a unique name for the policy. The name must be unique across all policies in your tenancy. You cannot change this later.
• Description: Enter a friendly description. You can change this later if you want to.
• Policy Versioning: Select Keep Policy Current if you'd like the policy to stay current with any future changes to the service's definitions of verbs and resources. Or if you'd prefer to limit access according to the definitions that were current on a specific date, select Use Version Dateand enter that date in format YYYY-MM-DD format.
• Statement: Specify a policy statement. If you want to add more than one statement, click +.
• Tags: Optionally, you can apply tags. If you have permissions to createa resource, you also have permissions to apply free-form tags to that resource. To apply a defined tag, you must have permissions to use the tag namespace.