Yep - a bit new and a bit formalising what's already there - entirely plausible.
Seeing what happens is possibly the best route in your situation.
Indeed - good advice.
It's a grey area, I'm afraid, dependent on, inter alia, what your contract says, what the staff handbook may say, the custom and practice in the company over the recent past, and whether you are already doing the things that they are now seeking to formalise (and, if so, for how long you've been...