If I understand you correctly, all you're really doing is trying to create another page within your forum that contains your privacy policy content. This being the case you just need to follow these simple steps:
1. Copy the following code into a text editor and save it as privacy.php
<?php
error_reporting(E_ALL & ~E_NOTICE);
define('NO_REGISTER_GLOBALS', 1);
define('THIS_SCRIPT','pages_privacy');
// ################### PRE-CACHE TEMPLATES AND DATA ######################
// get special phrase groups
// get special data templates from the datastore
// pre-cache templates used by all actions
$globaltemplates = array('pages_privacy');
// pre-cache templates used by specific actions
// ######################### REQUIRE BACK-END ############################
require_once('./global.php');
$navbits = construct_navbits(array('' => 'Privacy Policy'));
eval('$navbar = "' . fetch_template('navbar') . '";');
eval('print_output("' . fetch_template('pages_privacy') . '");');
?>
2. Create a template for each of your top/ parent level styles named pages_privacy with the following code:
$stylevar[htmldoctype]
<html dir="$stylevar[textdirection]" lang="$stylevar[languagecode]">
<head>
$headinclude
<title>$vboptions[bbtitle] - Privacy Policy</title>
</head>
<body>
$header
$navbar
<table class="tborder" cellpadding="$stylevar[cellpadding]" cellspacing="$stylevar[cellspacing]" border="0" width="100%" align="center">
<tr>
<td class="alt1">
PRIVACY TEXT GOES HERE
</td>
</tr>
</table>
$footer
</body>
</html>
3. Modify the template to contain whatever privacy policy text you have. You can also customize the page look and feel as you see fit.