Bill PR2, 1474486 Ontario Limited Act, 2014

Bill PR2 2014

An Act to revive 1474486 Ontario Limited

Preamble

Won Jung Cho has applied for special legislation to revive 1474486 Ontario Limited.  The applicant represents that he was the sole director, officer and shareholder of the corporation when it was dissolved.  The corporation was voluntarily dissolved under the Business Corporations Act on May 2, 2013 pursuant to articles of dissolution.  The applicant represents that he would like to revive the corporation in order to institute legal proceedings to acquire certain assets it was entitled to 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.  1474486 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 1474486 Ontario Limited Act, 2014.

Bill PR2 2014

An Act to revive 1474486 Ontario Limited

Preamble

Won Jung Cho has applied for special legislation to revive 1474486 Ontario Limited.  The applicant represents that he was the sole director, officer and shareholder of the corporation when it was dissolved.  The corporation was voluntarily dissolved under the Business Corporations Act on May 2, 2013 pursuant to articles of dissolution.  The applicant represents that he would like to revive the corporation in order to institute legal proceedings to acquire certain assets it was entitled to 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.  1474486 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 1474486 Ontario Limited Act, 2014.

EXPLANATORY NOTE

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