Bill PR58, 5028833 Ontario Ltd. Act, 2026

EXPLANATORY NOTE

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

Bill PR58 2026

An Act to revive 5028833 Ontario Ltd.

Preamble

Kin Min Feng has applied for special legislation to revive 5028833 Ontario Ltd. The applicant represents that he is the estate trustee for the estate of Suk Kwun Cheng, who was the sole director of the corporation when it was dissolved. The corporation was voluntarily dissolved under the Business Corporations Act on August 29, 2024 pursuant to articles of dissolution. The applicant would like to revive the corporation in order to deal with certain property held in the corporation’s name at the time of the dissolution, namely unclaimed funds held in accounts at a financial institution.

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 5028833 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.

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 5028833 Ontario Ltd. Act, 2026.