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Bill PR7 Original (PDF)

EXPLANATORY NOTE

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

Bill PR7 2022

An Act to revive Welberne Holding Corp.

Preamble

Catherine Martin has applied for special legislation to revive Welberne Holding Corp. The applicant represents that she was a director and the president of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act for failure to comply with subsection 241 (4) of that Act. The applicant represents that she would like to revive the corporation in order to deal with certain real property that was held in the name of the corporation at the time of the dissolution.

It is appropriate to grant the application.

Therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Corporation revived

1 Welberne Holding Corp. 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 Welberne Holding Corp. Act, 2022.