Projet de loi PR53, Sound Bay Properties Inc. Act, 2016

Projet de loi PR53 2016

An Act to revive Sound Bay Properties Inc.

Preamble

Mary McArthur has applied for special legislation to revive Sound Bay Properties Inc.  The applicant represents that she was a director of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on February 18, 2016 for failure to comply with subsection 115 (2) of that Act.  The applicant represents that the default was inadvertent and that she 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.  Sound Bay Properties Inc. 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 Sound Bay Properties Inc. Act, 2016

Projet de loi PR53 2016

An Act to revive Sound Bay Properties Inc.

Preamble

Mary McArthur has applied for special legislation to revive Sound Bay Properties Inc.  The applicant represents that she was a director of the corporation when it was dissolved.  The corporation was dissolved under the Business Corporations Act on February 18, 2016 for failure to comply with subsection 115 (2) of that Act.  The applicant represents that the default was inadvertent and that she 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.  Sound Bay Properties Inc. 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 Sound Bay Properties Inc. Act, 2016

EXPLANATORY NOTE

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