EXPLANATORY NOTE

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

Bill PR60 2024

An Act to revive Skybolt Construction Company Limited

Preamble

Helen McDonagh has applied for special legislation to revive Skybolt Construction Company Limited. The applicant represents that she was the director and sole shareholder of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on January 1, 1985 for failure to comply with subsection 240 (1) of that Act, as it read on that date. The applicant represents that she would like to revive the corporation in order to deal with certain real property held in the name of the corporation at the time of the dissolution.

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 Skybolt Construction Company 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 Skybolt Construction Company Limited Act, 2024.