Bill PR8, 1072550 Ontario Limited Act, 2001

Bill Pr8 2001

An Act to revive
1072550 Ontario Limited

Preamble

Faisal Qaisi has applied for special legislation to revive 1072550 Ontario Limited. The applicant represents that he was the sole director and shareholder of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on February 10, 2000 for failure to comply with section 115 of that Act. The applicant represents that this 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. 1072550 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 1072550 Ontario Limited Act, 2001.

Bill Pr8 2001

An Act to revive
1072550 Ontario Limited

Preamble

Faisal Qaisi has applied for special legislation to revive 1072550 Ontario Limited. The applicant represents that he was the sole director and shareholder of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on February 10, 2000 for failure to comply with section 115 of that Act. The applicant represents that this 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. 1072550 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 1072550 Ontario Limited Act, 2001.

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EXPLANATORY NOTE

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