Bill PR82, 504260 Ontario Ltd. Act, 2018

Rinaldi, Lou

Current Status: Ordered for Second Reading

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504260 Ontario Ltd. Act, 2018

EXPLANATORY NOTE

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

 

Bill Pr82                                                                                                                                   2018

An Act to revive 504260 Ontario Ltd.

Preamble

Dave Tredree has applied for special legislation to revive 504260 Ontario Ltd. The applicant represents that he was the president, secretary, treasurer, sole shareholder and a director of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on July 26, 1993 for failure to comply with subsection 115 (2) of that Act. The applicant represents that the default was inadvertent and that business has been carried on in the name of the corporation despite 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 504260 Ontario Ltd. 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 504260 Ontario Ltd. Act, 2018.

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