Section 43 introduces an obligation on directors of a company to prepare a compliance statement concerning the company's policies respecting compliance with its obligations under company law, tax law or any other statutory law which would have a material impact on the company's financial statement. It also introduces an obligation that these be in writing, be approved by the board of directors and be reviewed every three years. Under subsection (4), the directors are obligated to include in their annual report that they are responsible for securing the company's compliance with their relevant obligations and what procedures they have in place to achieve such compliance, confirm that they have, where necessary, reviewed the procedures and give their opinion on the extent to which they have secured compliance with their obligations.