EXPLANATORY NOTE

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

Bill PR25 2020

An Act to revive Tapir Corporation

Preamble

Sheila Handler has applied for special legislation to revive Tapir Corporation. The applicant represents that she was a director of the corporation when it was dissolved. The corporation was voluntarily dissolved under the Business Corporations Act on February 5, 2019 pursuant to articles of dissolution. The applicant represents that she would like to revive the corporation in order to deal with certain property that was held in the name of the corporation and to exercise certain rights the corporation had 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 Tapir Corporation 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 Tapir Corporation Act, 2020.