Bill PR58, 1049491 Ontario Inc. Act, 2017

Gates, Wayne

Current Status: Ordered for Second Reading

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1049491 Ontario Inc. Act, 2017

EXPLANATORY NOTE

The purpose of the Bill is set out in the Preamble.

Bill Pr58                                                                                                                                   2017

An Act to revive 1049491 Ontario Inc.

Preamble

Bruce Peters, Bruce Ward, Henry Muller and Bella Muller have applied for special legislation to revive 1049491 Ontario Inc. The applicants represent that they were the directors, officers or shareholders of the corporation when it was dissolved. The corporation was voluntarily dissolved under the Business Corporations Act on January 10, 2013 pursuant to articles of dissolution. The applicants would like to revive the corporation in order to deal with certain property that was held in the corporation’s name at the time of the dissolution.

It is appropriate to grant the application.

Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Corporation revived

1 1049491 Ontario Inc. is revived and is, subject to any rights acquired by any person after its dissolution, restored to its legal position, including all its property, rights, privileges and franchises and subject to all its liabilities, contracts, disabilities and debts, as of the date of its dissolution, in the same manner and to the same extent as if it had not been dissolved.

Commencement

2 This Act comes into force on the day it receives Royal Assent.

Short title

3 The short title of this Act is the 1049491 Ontario Inc. Act, 2017.

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