Projet de loi PR71, 1428501 Ontario Limited Act, 2017

Rinaldi, Lou

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1428501 Ontario Limited Act, 2017

EXPLANATORY NOTE

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

Bill Pr71                                                                                                                                   2017

An Act to Revive 1428501 Ontario Limited

Preamble

Lawrence H. Zucker has applied for special legislation to revive 1428501 Ontario Limited. The applicant represents that he was an officer of the corporation at the time of its dissolution. The corporation was voluntarily dissolved under the Business Corporations Act on May 25, 2015 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 1428501 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 1428501 Ontario Limited Act, 2017.

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