Revives Dissolved Ontario Company, Restores Rights

Summary#

This private bill brings back a specific Ontario company, 1976998 Ontario Inc., that was voluntarily dissolved in 2023. The goal is to let the company operate again under its old name and restore its legal status.

• Revives 1976998 Ontario Inc. as if it had not been dissolved.
• Restores the company’s property and rights, and also its contracts, debts, and other obligations.
• Protects any rights other people gained after the company was dissolved.
• Takes effect on the day it receives Royal Assent (formal approval).

What it means for you#

• General public:

  • Most people will not notice any change. This bill affects only the named company.

• Owners and directors of 1976998 Ontario Inc.:

  • You can carry on business again under the same corporate name.
  • Past contracts and obligations come back into effect.

• Customers and suppliers:

  • You can do business with the company under its original corporate identity.
  • Any ongoing contracts that existed at dissolution are restored.

• Employees and contractors:

  • If there were employment or service agreements in place before dissolution, those obligations may resume.

• Creditors:

  • You can again pursue valid debts owed by the company, since its legal status and obligations are restored.

• People who gained rights after dissolution (for example, bought former company property):

  • Your rights are protected. The revival does not take away rights you legally gained after the company was dissolved.

Expenses#

No publicly available information.

Proponents' View#

• Lets the business operate again and keep using its established name.
• Restores continuity for customers, suppliers, and creditors.
• Corrects a dissolved status that the owners no longer want.
• Includes a safeguard so people who gained rights after dissolution are not harmed.

Opponents' View#

• Uses legislative time to address a single private company’s issue.
• Reviving a dissolved company can reopen old debts and disputes.
• May create some confusion about which contracts or obligations are back in force and from when.