1092040 Ontario Inc. Act, 1996

EXPLANATORY NOTE

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

Bill Pr431996

An Act to revive

1092040 Ontario Inc.

Preamble

Robert Fairfield has applied for special legislation to revive 1092040 Ontario Inc. The applicant represents that he was the sole shareholder of the corporation when it was dissolved and he is the sole officer and director of the ongoing organization carried on in the name of the corporation. The corporation was dissolved under the Business Corporations Act on November 15, 1994 for failure to pay the prescribed fee for incorporation. The applicant represents that this failure was inadvertent and since he did not receive the notice of default that was mailed to the corporation, he was not aware of the dissolution until months after it had occurred. The applicant represents that activities have been carried on in the name of the corporation despite 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. 1092040 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 1092040 Ontario Inc. Act, 1996.