Bill PR21 explained in plain English

This Act revives the corporation 1105954 Ontario Limited, restoring it to its legal position as of the date of its dissolution on September 30, 2022.

This is a private member's bill that revives (brings back) a corporation called 1105954 Ontario Limited. The corporation was voluntarily dissolved (shut down) on September 30, 2022 under Ontario's Business Corporations Act. David Potipcoe, who was the sole director, officer, and shareholder at the time of dissolution, applied for special legislation to restore the corporation so he can deal with property that the corporation held when it was dissolved. Once this Act receives Royal Assent (which it has, on October 26, 2023), the corporation is restored to the same legal position it had on the date of dissolution. This means it gets back all its property, rights, privileges, and franchises, and it remains responsible for all its liabilities, contracts, disabilities, and debts. However, the revival does not override any rights that other people may have acquired after the corporation was dissolved.