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1976998 Ontario Inc. Act, 2025

Full Title:
Bill PR1, 1976998 Ontario Inc. Act, 2025

Summary#

  • This private bill brings back a dissolved company, 1976998 Ontario Inc., so it can operate again under the same name.

  • It restores the company’s property, rights, and duties as if it had never been dissolved, while keeping any rights other people gained after the dissolution in place.

  • Revives 1976998 Ontario Inc. and returns it to its former legal status.

  • Restores its assets, contracts, and privileges, and also its debts and other obligations.

  • Applies “as if not dissolved,” but does not undo rights that others gained after the company was closed.

  • Takes effect right away when it becomes law.

What it means for you#

  • Owners/directors

    • Can run the business again under 1976998 Ontario Inc.
    • The company can own property, sign new contracts, and carry on business.
    • Past duties and debts of the company come back too.

  • Customers and suppliers

    • Earlier contracts with the company are treated as still valid, unless someone else gained rights after the dissolution that would block that.
    • You can do business with the company again under the same name.

  • Creditors

    • You can pursue debts owed by 1976998 Ontario Inc. because its obligations are restored.

  • Employees (if any)

    • Employer duties tied to the company return, such as pay and benefits, if they applied before.

  • General public

    • No direct effect on most people.

Expenses#

No publicly available information.

Proponents' View#

  • Lets the owners restart their business without creating a new company from scratch.
  • Reduces confusion by restoring earlier contracts and assets under the same company name.
  • Also restores debts and duties, which supporters say protects creditors and customers.
  • A narrow, one-company fix that does not change rules for other businesses.

Opponents' View#

  • Using a special law for one company may feel like special treatment or a poor use of legislative time.
  • Bringing back a dissolved company can cause confusion about what happened while it was closed.
  • Restoring old duties could lead to tax or legal disputes about the gap period.
  • Some worry this could encourage less care when companies choose to dissolve.