EXPLANATORY NOTE

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

Projet de loi Pr48 2024

An Act to revive Poulak and Rachar Limited

Preamble

Gertrude Poulak has applied for special legislation to revive Poulak and Rachar Limited. The applicant represents that she was a director of the corporation at the time it was dissolved. The corporation was dissolved under the Business Corporations Act on October 20, 2003 pursuant to articles of dissolution. The applicant represents that she 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.

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 Poulak and Rachar 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.

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 Poulak and Rachar Limited Act, 2024.