Bill PR60, 1692783 Ontario Inc. Act, 2022

Bill PR60 2022

An Act to revive 1692783 Ontario Inc.

Preamble

Andrew Ferri has applied for special legislation to revive 1692783 Ontario Inc. The applicant represents that he was the president, secretary and sole director of the corporation at the time of its dissolution. The corporation was dissolved under the Business Corporations Act on July 21, 2015 for failure to comply with subsection 115 (2) of that Act. The applicant represents that he would like to revive the corporation in order to deal with certain real property held by the corporation as bare trustee.

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 1692783 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.

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 1692783 Ontario Inc. Act, 2022.

EXPLANATORY NOTE

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

Bill PR60 2022

An Act to revive 1692783 Ontario Inc.

Preamble

Andrew Ferri has applied for special legislation to revive 1692783 Ontario Inc. The applicant represents that he was the president, secretary and sole director of the corporation at the time of its dissolution. The corporation was dissolved under the Business Corporations Act on July 21, 2015 for failure to comply with subsection 115 (2) of that Act. The applicant represents that he would like to revive the corporation in order to deal with certain real property held by the corporation as bare trustee.

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 1692783 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.

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 1692783 Ontario Inc. Act, 2022.