EXPLANATORY NOTE

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

Bill PR4 2018

An Act to revive 850148 Ontario Inc.

Preamble

Janice Mitchell has applied for special legislation to revive 850148 Ontario Inc. The applicant represents that she was a director of the corporation when it was dissolved. The corporation was dissolved under the Business Corporations Act on October 28, 2011 pursuant to articles of dissolution. The applicant represents that she would like to revive the corporation in order to deal with certain real property that was held in the corporation’s name 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 850148 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 850148 Ontario Inc. Act, 2018.