Summary#
This is a private Ontario bill to bring back a single company, 1000401927 Ontario Inc., that was voluntarily closed in November 2024. It restores the company’s legal status so it can do business again, while protecting any rights others gained after it was closed. The Act takes effect once it receives Royal Assent.
- Revives 1000401927 Ontario Inc. as if it had never been dissolved.
- Restores the company’s property, contracts, and privileges.
- Also restores its debts and other obligations.
- Protects any rights other people gained after the company was dissolved.
- Becomes law on Royal Assent.
What it means for you#
- Company and directors: The company can operate again under the same name. It regains its assets and contracts, but also its debts and other duties.
- Creditors and business partners: You can again enforce contracts or collect money owed by the company. Any new rights you gained after the dissolution are kept.
- Employees or contractors (if any): Work relationships and benefits tied to the company can restart, but past obligations also come back.
- General public: No direct effect for most people.
- Government records: Corporate registries will show the company as active again.
Expenses#
Estimated fiscal impact: minimal for the province.
- Simple administrative updates to corporate records.
- No new programs or ongoing public spending expected.
Proponents' View#
- Restores business continuity so the company can operate under its existing identity.
- Lets the company manage any remaining assets or contracts without starting from scratch.
- Ensures fairness by reviving both rights and obligations, not just the benefits.
- Protects third parties by keeping any rights they gained while the company was dissolved.
Opponents' View#
- Uses legislative time for a single private matter, which some see as low public value.
- Reviving a dissolved company could create confusion for people who assumed it was closed.
- Bringing back old debts and contracts may lead to disputes about what applies and when.
- Some prefer administrative solutions over special legislation for corporate revival.