(1) Where the directors of a company are satisfied that the requirements of section 353 have been complied with as regards the preparation of the abridged financial statements, those financial statements shall be approved by the board of directors and signed on their behalf by 2 directors, where there are 2 or more directors.
(2) Without prejudice to the generality of section 11 and its application to the other provisions of this section, where the company has a sole director subsection (1) operates to require that director, if he or she is satisfied as to the matters referred to in that subsection in respect of the statements, to approve and sign the abridged financial statements.
(3) In addition to the preceding requirements, there shall be included the following statement on the face of the balance sheet forming part of the abridged financial statements, namely a statement by the directors of the company that:
(a) they have relied on the specified exemption contained in section 352;
…