Projet de loi PR48, Liberty Tire Recycling Canada I Ltd. Act, 2016

Projet de loi PR48 2016

An Act to revive Liberty Tire Recycling Canada I Ltd.

Preamble

Liberty Tire Recycling Canada Ltd. has applied for special legislation to revive Liberty Tire Recycling Canada I Ltd. The applicant represents that it was the sole shareholder of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on February 7, 2011 pursuant to articles of dissolution. The applicant would like to revive the corporation to enable it to recover a federal goods and services tax credit that was in the corporation's name, and of which the corporation was unaware, 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.  Liberty Tire Recycling Canada I 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 Liberty Tire Recycling Canada I Ltd. Act, 2016.

Projet de loi PR48 2016

An Act to revive Liberty Tire Recycling Canada I Ltd.

Preamble

Liberty Tire Recycling Canada Ltd. has applied for special legislation to revive Liberty Tire Recycling Canada I Ltd. The applicant represents that it was the sole shareholder of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on February 7, 2011 pursuant to articles of dissolution. The applicant would like to revive the corporation to enable it to recover a federal goods and services tax credit that was in the corporation's name, and of which the corporation was unaware, 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.  Liberty Tire Recycling Canada I 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 Liberty Tire Recycling Canada I Ltd. Act, 2016.

EXPLANATORY NOTE

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