Projet de loi PR39 2011

An Act to revive Faradale Farms Ltd.

Preamble

Clarence Ian Farrow has applied for special legislation to revive Faradale Farms Ltd.  The applicant represents that he is a shareholder of Faradale Farms Ltd. and was a shareholder of the Corporation when it was dissolved.  The corporation was dissolved pursuant to section 241 of the Business Corporations Act as a result of a default under the Corporations Tax Act on February 12, 1990 for failure to prepare and file corporate tax returns.  The applicant represents that the default was inadvertent as the business carried on by Faradale Farms Ltd. was no longer being carried on by the corporation but was being carried on by individuals.  At the time of its dissolution, Faradale Farms Ltd. was the owner of certain lands and premises in the geographic Township of Arran, in the Municipality of Arran-Elderslie, in the County of Bruce.

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.  Faradale Farms Ltd. 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 Faradale Farms Ltd. Act, 2011.

EXPLANATORY NOTE

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