Bill PR41, Tonum Ltd. Act, 2010

Bill PR41 2010

An Act to revive Tonum Ltd.

Preamble

Alex Skourides has applied for special legislation to revive Tonum Ltd.  The applicant represents that he is the president of the ongoing organization carried on in the name of the corporation.  The corporation was voluntarily dissolved under the Business Corporations Act on July 9, 2008 by articles of dissolution.  The applicant represents that the corporation was dissolved without considering the fact that the corporation was a plaintiff in a lawsuit and that the purpose of the revival is to permit the corporation to comply with and enforce minutes of settlement and judgment in the lawsuit.

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.  Tonum 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 Tonum Ltd. Act, 2010.

Bill PR41 2010

An Act to revive Tonum Ltd.

Preamble

Alex Skourides has applied for special legislation to revive Tonum Ltd.  The applicant represents that he is the president of the ongoing organization carried on in the name of the corporation.  The corporation was voluntarily dissolved under the Business Corporations Act on July 9, 2008 by articles of dissolution.  The applicant represents that the corporation was dissolved without considering the fact that the corporation was a plaintiff in a lawsuit and that the purpose of the revival is to permit the corporation to comply with and enforce minutes of settlement and judgment in the lawsuit.

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.  Tonum 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 Tonum Ltd. Act, 2010.

EXPLANATORY NOTE

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