EXPLANATORY NOTE

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

Bill PR8 2019

An Act to revive Good Fortune Corporation

Preamble

Yang Liu has applied for special legislation to revive Good Fortune Corporation. The applicant represents that he was a director and shareholder of the corporation at the time of its dissolution. The corporation was voluntarily dissolved under the Business Corporations Act on August 24, 2017 pursuant to articles of dissolution. The applicant would like to revive the corporation in order to collect certain monies owing to it.

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 Good Fortune 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 Good Fortune Corporation Act, 2019.