The purpose of the Bill is set out in the Preamble.
Bill PR33 2020
An Act to revive 704176 Ontario Limited
Sheila Barbara Iseman has applied for special legislation to revive 704176 Ontario Limited. The applicant represents that she was the sole director of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on February 13, 1995 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 held partially in the name of the corporation 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 704176 Ontario 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 704176 Ontario Limited Act, 2020.