The purpose of the Bill is set out in the Preamble.
Bill PR47 2021
An Act to revive Wemax Real Estate Inc.
Thanakumar Subramaniam has applied for special legislation to revive Wemax Real Estate Inc. The applicant represents that he was a director of the corporation at the time of its dissolution. The corporation was dissolved under the Business Corporations Act on June 10, 2019 pursuant to articles of dissolution. The applicant would like to revive the corporation in order to collect certain monies owing to it.
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 Wemax Real Estate 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.
2 This Act comes into force on the day it receives Royal Assent.
3 The short title of this Act is the Wemax Real Estate Inc. Act, 2021.