EXPLANATORY NOTE

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

Bill PR19 2019

An Act to revive 1549408 Ontario Inc.

Preamble

Wai Fong Chik and Ying Fat Au have applied for special legislation to revive 1549408 Ontario Inc. The applicants represent that they were the sole directors and shareholders of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on May 2, 2012 pursuant to articles of dissolution. The applicants represent that they would like to revive the corporation in order to deal with certain property owing to the corporation.

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 1549408 Ontario 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 1549408 Ontario Inc. Act, 2019.