/PROTECTION=(ownership[:access][,...])

    Specifies protection for the directory.

    o  Specify the ownership parameter as system (S),  owner (O),
       group (G),  or world (W).

    o  Specify the access parameter as read (R),  write (W), execute
       (E),  or delete (D).

    The default protection is the protection of the parent directory
    (the next-higher level directory, or the master directory for
    top-level directories) minus any delete (D) access.

    If you are creating a first-level directory, then the next-
    higher-level directory is the MFD. (The protection of the MFD
    is established by the INITIALIZE command.)

    For more information on specifying protection code, see the HP
    OpenVMS Guide to System Security.