Projet de loi PR12 2008

An Act to revive Porcupine Goldtop Mines Limited and to change its name to Porcupine Goldor Mines Limited

Preamble

Hugh Hamish Sutherland and Susan Lipsey have applied for special legislation to revive Porcupine Goldtop Mines Limited and to change its name to Porcupine Goldor Mines Limited.  The applicants represent that they are the trustees of the estate of Hugh Harold Sutherland and are acting in that capacity in applying for this special legislation. The applicants further represent that Hugh Harold Sutherland died on March 18, 1972 and that at the time of his death he was a shareholder of Porcupine Goldtop Mines Limited, both personally and as a trustee of the Sovereign Loan Syndicate. 

The corporation was incorporated by letters patent dated April 15, 1936 under the name Porcupine Goldor Mines Limited and changed its name on March 23, 1944 to Porcupine Goldtop Mines Limited.  The corporation was dissolved on March 14, 1978 for default in complying with section 134 of The Securities Act, being chapter 426 of the Revised Statutes of Ontario, 1970, as re-enacted by the Statutes of Ontario, 1971, chapter 31, section 44. 

The applicants represent that, at the time of the dissolution of the corporation, the share in the corporation that was held personally by Hugh Harold Sutherland at the time of his death was held in the name of the estate of Hugh Harold Sutherland and the shares in the corporation that were held in trust for the Sovereign Loan Syndicate at the time of Hugh Harold Sutherland's death had not been transferred to his estate or to any other person. 

The applicants would like to revive the corporation in order to deal with certain property that was held in the corporation's name at the time of the dissolution and to resume carrying on the business of the corporation before its dissolution, namely mining exploration and investment.

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.  (1)  Porcupine Goldtop Mines Limited 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.

Restoration to legal position before dissolution excludes forfeited mining lands, rights

   (2)  For greater certainty, any mining lands or mining rights held by Porcupine Goldtop Mines Limited as of the date of its dissolution that were forfeited to the Crown under the Mining Act after the date of its dissolution are excluded from the property, rights, privileges and franchises to which the corporation is restored by subsection (1).

Name changed

   2.  The name of the corporation is changed to Porcupine Goldor Mines Limited.

Limitation

   3.  This Act and the revival of the corporation shall not be construed as being determinative of any person's rights to the assets or the shares of either the corporation or the estate of Hugh Harold Sutherland.

Commencement

   4.  This Act comes into force on the day it receives Royal Assent.

Short title

   5.  The short title of this Act is the Porcupine Goldor Mines Limited Act, 2008.

Projet de loi PR12 2008

An Act to revive Porcupine Goldtop Mines Limited and to change its name to Porcupine Goldor Mines Limited

Preamble

Hugh Hamish Sutherland and Susan Lipsey have applied for special legislation to revive Porcupine Goldtop Mines Limited and to change its name to Porcupine Goldor Mines Limited.  The applicants represent that they are the trustees of the estate of Hugh Harold Sutherland and are acting in that capacity in applying for this special legislation. The applicants further represent that Hugh Harold Sutherland died on March 18, 1972 and that at the time of his death he was a shareholder of Porcupine Goldtop Mines Limited, both personally and as a trustee of the Sovereign Loan Syndicate. 

The corporation was incorporated by letters patent dated April 15, 1936 under the name Porcupine Goldor Mines Limited and changed its name on March 23, 1944 to Porcupine Goldtop Mines Limited.  The corporation was dissolved on March 14, 1978 for default in complying with section 134 of The Securities Act, being chapter 426 of the Revised Statutes of Ontario, 1970, as re-enacted by the Statutes of Ontario, 1971, chapter 31, section 44. 

The applicants represent that, at the time of the dissolution of the corporation, the share in the corporation that was held personally by Hugh Harold Sutherland at the time of his death was held in the name of the estate of Hugh Harold Sutherland and the shares in the corporation that were held in trust for the Sovereign Loan Syndicate at the time of Hugh Harold Sutherland's death had not been transferred to his estate or to any other person. 

The applicants would like to revive the corporation in order to deal with certain property that was held in the corporation's name at the time of the dissolution and to resume carrying on the business of the corporation before its dissolution, namely mining exploration and investment.

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.  (1)  Porcupine Goldtop Mines Limited 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.

Restoration to legal position before dissolution excludes forfeited mining lands, rights

   (2)  For greater certainty, any mining lands or mining rights held by Porcupine Goldtop Mines Limited as of the date of its dissolution that were forfeited to the Crown under the Mining Act after the date of its dissolution are excluded from the property, rights, privileges and franchises to which the corporation is restored by subsection (1).

Name changed

   2.  The name of the corporation is changed to Porcupine Goldor Mines Limited.

Limitation

   3.  This Act and the revival of the corporation shall not be construed as being determinative of any person's rights to the assets of either the corporation or the estate of Hugh Harold Sutherland the assets or the shares of either the corporation or the estate of Hugh Harold Sutherland.

Commencement

   4.  This Act comes into force on the day it receives Royal Assent.

Short title

   5.  The short title of this Act is the Porcupine Goldor Mines Limited Act, 2008.

This reprint of the Bill is marked to indicate the changes that were made in Committee.

The changes are indicated by underlines for new text and a strikethrough for deleted text.

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EXPLANATORY NOTE

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

Projet de loi PR12 2008

An Act to revive Porcupine Goldtop Mines Limited and to change its name to Porcupine Goldor Mines Limited

Preamble

Hugh Hamish Sutherland and Susan Lipsey have applied for special legislation to revive Porcupine Goldtop Mines Limited and to change its name to Porcupine Goldor Mines Limited.  The applicants represent that they are the trustees of the estate of Hugh Harold Sutherland and are acting in that capacity in applying for this special legislation. The applicants further represent that Hugh Harold Sutherland died on March 18, 1972 and that at the time of his death he was a shareholder of Porcupine Goldtop Mines Limited, both personally and as a trustee of the Sovereign Loan Syndicate. 

The corporation was incorporated by letters patent dated April 15, 1936 under the name Porcupine Goldor Mines Limited and changed its name on March 23, 1944 to Porcupine Goldtop Mines Limited.  The corporation was dissolved on March 14, 1978 for default in complying with section 134 of The Securities Act, being chapter 426 of the Revised Statutes of Ontario, 1970, as re-enacted by the Statutes of Ontario, 1971, chapter 31, section 44. 

The applicants represent that, at the time of the dissolution of the corporation, the share in the corporation that was held personally by Hugh Harold Sutherland at the time of his death was held in the name of the estate of Hugh Harold Sutherland and the shares in the corporation that were held in trust for the Sovereign Loan Syndicate at the time of Hugh Harold Sutherland's death had not been transferred to his estate or to any other person. 

The applicants would like to revive the corporation in order to deal with certain property that was held in the corporation's name at the time of the dissolution and to resume carrying on the business of the corporation before its dissolution, namely mining exploration and investment.

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.  (1)  Porcupine Goldtop Mines Limited 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.

Restoration to legal position before dissolution excludes forfeited mining lands, rights

   (2)  For greater certainty, any mining lands or mining rights held by Porcupine Goldtop Mines Limited as of the date of its dissolution that were forfeited to the Crown under the Mining Act after the date of its dissolution are excluded from the property, rights, privileges and franchises to which the corporation is restored by subsection (1).

Name changed

   2.  The name of the corporation is changed to Porcupine Goldor Mines Limited.

Limitation

   3.  This Act and the revival of the corporation shall not be construed as being determinative of any person's rights to the assets of either the corporation or the estate of Hugh Harold Sutherland.

Commencement

   4.  This Act comes into force on the day it receives Royal Assent.

Short title

   5.  The short title of this Act is the Porcupine Goldor Mines Limited Act, 2008.

______________

EXPLANATORY NOTE

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