EXPLANATORY NOTE

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

Bill PR49 2021

An Act to revive Woodex Inc.

Preamble

Nadeem Toma has applied for special legislation to revive Woodex Inc. The applicant represents that he was a director of the corporation at the time of its dissolution. The corporation was voluntarily dissolved under the Business Corporations Act on January 10, 2020, pursuant to articles of dissolution. The applicant represents that he would like to revive the corporation in order to carry on business in the name of 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 Woodex 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 Woodex Inc. Act, 2021.