EXPLANATORY NOTE

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

Projet de loi PR65 2024

An Act to revive MFIS Holdings and Investments Inc.

Preamble

Mohammed Shanshal has applied for special legislation to revive MFIS Holdings and Investments Inc. The applicant represents that he was the sole director and president of the corporation when it was dissolved. The corporation was voluntarily dissolved under the Business Corporations Act on February 11, 2020 pursuant to articles of dissolution. The applicant represents that he would like to revive the corporation in order to deal with certain real property, the registered title to which 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 MFIS Holdings and Investments 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 MFIS Holdings and Investments Inc. Act, 2024.