EXPLANATORY NOTE

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

Bill PR51 2024

An Act to revive 1485997 Ontario Limited

Preamble

Spyros Agouros has applied for special legislation to revive 1485997 Ontario Limited. The applicant represents that he was the sole director of the corporation when it was dissolved. The corporation was voluntarily dissolved under the Business Corporations Act on October 17, 2023, pursuant to articles of dissolution. The applicant represents that he would like to revive the corporation in order to participate in legal proceedings.

It is appropriate to grant the application.

Therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Corporation revived

1 1485997 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 1485997 Ontario Limited Act, 2024.