IN part 5 Table 114, describes that Time is defined as a base data type in Part 3, but part 3 does nto describe it. In addition, part 5 only has the table 114 reference. The following is a definition of how a string format for time is defined ISO 8601, this may be one manner of handling time. other formats would also be acceptable.

ISO 8601 uses the 24-hour clock system. The basic format is [hh][mm][ss] and the extended format is [hh]:[mm]:[ss].
• [hh] refers to a zero-padded hour between 00 and 24 (where 24 is only used to notate midnight at the end of a calendar day).
• [mm] refers to a zero-padded minute between 00 and 59.
• [ss] refers to a zero-padded second between 00 and 60 (where 60 is only used to notate an added leap second).
So a time might appear as either "134730" in the basic format or "13:47:30" in the extended format.
It is also acceptable to omit lower order time elements for reduced accuracy:[5] [hh]:[mm], [hh][mm] and [hh] are all used.
Midnight is a special case and can be referred to as both "00:00" and "24:00". The notation "00:00" is used at the beginning of a calendar day and is the more frequently used. At the end of a day use "24:00". Note that "2007-04-05T24:00" is the same instant as "2007-04-06T00:00" (see Combined date and time representations below).
Decimal fractions may also be added to any of the three time elements. A decimal mark, either a comma or a dot (without any preference as stated in resolution 10 of the 22nd General Conference CGPM in 2003[9], but with a preference for a comma according to ISO 8601:2004[10]), is used as a separator between the time element and its fraction. A fraction may only be added to the lowest order time element in the representation. To denote "14 hours, 30 and one half minutes", do not include a seconds figure. Represent it as "14:30,5", "1430,5", "14:30.5", or "1430.5". There is no limit on the number of decimal places for the decimal fraction. However, the number of decimal places needs to be agreed to by the communicating parties.