Projet de loi PR29, 563523 Ontario Limited Act, 2015

Projet de loi PR29 2015

An Act to revive 563523 Ontario Limited

Preamble

Adelchi Franzolini has applied for special legislation to revive 563523 Ontario Limited.  The applicant represents that he was the president, secretary and sole director of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on June 25, 1994 for failure to comply with the Corporations Information Act. The applicant represents that this 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.  563523 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.

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 563523 Ontario Limited Act, 2015

Projet de loi PR29 2015

An Act to revive 563523 Ontario Limited

Preamble

Adelchi Franzolini has applied for special legislation to revive 563523 Ontario Limited.  The applicant represents that he was the president, secretary and sole director of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on June 25, 1994 for failure to comply with the Corporations Information Act. The applicant represents that this 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.  563523 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.

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 563523 Ontario Limited Act, 2015.

EXPLANATORY NOTE

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