The purpose of the Bill is set out in the Preamble.
Bill PR24 2020
An Act to revive 2404907 Ontario Ltd.
Jay Tran has applied for special legislation to revive 2404907 Ontario Ltd. The applicant represents that he was a director of the corporation when it was dissolved. The corporation was voluntarily dissolved under the Business Corporations Act on September 12, 2017 pursuant to articles of dissolution. The applicant would like to revive the corporation in order to institute legal proceedings respecting a contract that the corporation had entered into.
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:
1 2404907 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.
2 This Act comes into force on the day it receives Royal Assent.
3 The short title of this Act is the 2404907 Ontario Ltd. Act, 2020.