Projet de loi PR46, Faradale Farms Ltd. Act, 2011

Projet de loi PR46 2011

An Act to revive Faradale Farms Ltd.

Preamble

Clarence Ian Farrow has applied for special legislation to revive Faradale Farms Ltd.  The applicant represents that he was a shareholder of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on February 12, 1990 for failure to comply with the Corporations Tax Act.  The applicant represents that the default was inadvertent and that he would like to revive the corporation in order to deal with certain property that was 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:

Corporation revived

   1.  Faradale Farms 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 Faradale Farms Ltd. Act, 2011.

Projet de loi PR46 2011

An Act to revive Faradale Farms Ltd.

Preamble

Clarence Ian Farrow has applied for special legislation to revive Faradale Farms Ltd.  The applicant represents that he was a shareholder of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on February 12, 1990 for failure to comply with the Corporations Tax Act.  The applicant represents that the default was inadvertent and that he would like to revive the corporation in order to deal with certain property that was 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:

Corporation revived

   1.  Faradale Farms 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 Faradale Farms Ltd. Act, 2011.

EXPLANATORY NOTE

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