EXPLANATORY NOTE

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

Projet de loi Pr47 2024

An Act to revive 1147946 Ontario Inc.

Preamble

Scott McLeod has applied for special legislation to revive 1147946 Ontario Inc. The applicant represents that he was a shareholder of the corporation at the time of its dissolution. The corporation was dissolved under the Business Corporations Act on May 31, 2011, pursuant to articles of dissolution. The applicant would like to revive the corporation in order to deal with certain real property that was held in the corporation’s name at the time of the dissolution.

It is appropriate to grant the application.

Therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Corporation revived

1 1147946 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 1147946 Ontario Inc. Act, 2024.