The purpose of the Bill is set out in the Preamble.
Bill PR26 2020
An Act to revive 2585303 Ontario Inc.
Pradeepraj Mani has applied for special legislation to revive 2585303 Ontario Inc. The applicant represents that he was a director of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on April 8, 1995 for failure to comply with section 115 of that Act. The applicant represents 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:
1 2585303 Ontario Inc. 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 2585303 Ontario Inc. Act, 2020.