The purpose of the Bill is set out in the Preamble.
Bill PR3 2018
An Act to revive Brownwood Holdings Limited
Herbert Finkelstein has applied for special legislation to revive Brownwood Holdings Limited. The applicant represents that he was the director of the corporation at the time it was dissolved. The corporation was dissolved under the Business Corporations Act on January 21, 1995, for failure to comply with the Corporations Information Act. The applicant represents that the default was inadvertent and that he would like to revive the corporation in order to deal with certain real property held in the corporation’s name at the time of 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 Brownwood Holdings Limited 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 Brownwood Holdings Limited Act, 2018.