Bill PR41 explained in plain English
2560462 Ontario Ltd. Act, 2021
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 42nd Parliament, 1st Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
The 2560462 Ontario Ltd. Act, 2021, revived the corporation 2560462 Ontario Ltd., restoring its legal status and allowing it to address tax matters and conduct business.
This private bill, the 2560462 Ontario Ltd. Act, 2021, revived the corporation 2560462 Ontario Ltd. The corporation was dissolved on September 28, 2018, for failing to meet requirements under the Business Corporations Act. The bill restores the corporation to its legal status as if it had never been dissolved, subject to any rights gained by others after its dissolution. This revival is intended to allow the corporation to address outstanding tax matters and resume business operations.
- Revives the corporation 2560462 Ontario Ltd.
- Restores the corporation to its legal position as of the date of its dissolution.
- Makes the corporation subject to its previous liabilities, contracts, disabilities, and debts.
- Ensures the revival is subject to rights acquired by others after the corporation's dissolution.
- States that the Act comes into force on the day it receives Royal Assent.
- 2560462 Ontario Ltd. (corporation)
- Jiacheng Diao (applicant, former director)
- The public or other entities who may have acquired rights after the dissolution of 2560462 Ontario Ltd.
- The corporation is restored to its legal position, including all its property, rights, privileges, and franchises.
- The corporation is subject to all its liabilities, contracts, disabilities, and debts as of the date of its dissolution.
- The revival is subject to any rights acquired by any person after the corporation's dissolution.
- The corporation 2560462 Ontario Ltd. was dissolved on September 28, 2018.
- This Act (Bill Pr41) received Royal Assent on June 3, 2021.
- This Act came into force on June 3, 2021.
- The bill states the corporation is revived to deal with certain outstanding tax matters relating to the corporation.
- The extent to which 'rights acquired by any person after its dissolution' may limit the revival of the corporation is not specified.
- The specific 'outstanding tax matters' that the corporation intends to address are not detailed in the bill.
- The specific reasons for failure to comply with subsection 118 (3) of the Business Corporations Act are not detailed.
While not directly amended, the revival of 2560462 Ontario Ltd. bypasses the normal process for reviving a corporation that would typically be governed by this Act. The reason for dissolution (failure to comply with subsection 118(3)) is noted.
Source: Preamble
This Act came into effect on the day it received Royal Assent.
Source: Section 2
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
Official textProcess Snapshot
Vote Summary
This bill does not have a published recorded division in the current official sources, so representative-by-representative vote counts are not shown.
No published representative vote breakdown
The current official sources do not publish a recorded division breakdown for this bill, so there is no representative-by-representative table to show.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced