Summary#
This bill brings back a single Ontario company, 1000401924 Ontario Inc., that was voluntarily shut down in November 2024. It restores the company so it can carry on business again, as if it had never been dissolved. It also protects any rights other people gained while the company was closed.
- Revives 1000401924 Ontario Inc. so it can operate again.
- Restores its property, rights, and privileges, and also its duties, contracts, and debts.
- Protects anyone who gained legal rights during the time the company was dissolved.
- Takes effect once it receives Royal Assent (formal approval).
What it means for you#
- Workers and contractors
- The company can hire, rehire, or contract again. The bill does not promise jobs, but it allows the business to operate.
- Customers and suppliers
- Old contracts may be treated as back in force, since the company is restored “as if it had not been dissolved.”
- If you gained rights while the company was dissolved (for example, took over a contract or property), those rights are protected.
- Creditors (people or businesses the company owes money to)
- You can again pursue debts and enforce contracts, since the company regains its obligations.
- Owners and directors
- The company returns to its prior legal status, so it can hold property, sign contracts, and run its business under its old name.
- General public
- This is a narrow, one-company bill. Most people will see no direct change.
Expenses#
No publicly available information.
Proponents' View#
- Lets a small business resume operations and meet customer needs.
- Restores the company’s ability to pay debts and finish contracts.
- Protects other people’s rights gained during the dissolved period, reducing unfair harm.
- Is narrow and routine, affecting only one company and not changing general law.
Opponents' View#
- Uses legislative time to address one company’s situation, with limited public benefit.
- Provides few details about why the company dissolved and why revival is needed now.
- Could reopen old debts or disputes, creating uncertainty for some people who dealt with the company.
- May cause confusion about which contracts are back in force and which third-party rights remain in place.