Bill PR60, 1476283 Ontario Limited Act

Bailey, Robert

Current Status: Ordered for Second Reading

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1476283 Ontario Limited Act, 2017

EXPLANATORY NOTE

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

Bill Pr60                                                                                                                                   2017

An Act to revive 1476283 Ontario Limited

Preamble

Canerector Properties Inc. has applied for special legislation to revive 1476283 Ontario Limited.  The applicant represents that a predecessor corporation of the applicant was the sole shareholder of the corporation at the time of its dissolution. The corporation was voluntarily dissolved under the Business Corporations Act on June 3, 2013 pursuant to articles of dissolution. The applicant 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 1476283 Ontario Limited 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 1476283 Ontario Limited Act, 2017.

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