Bill PR3 explained in plain English
Gilda Investments Limited Act, 2025
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 44th 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
Bill PR3 revives Gilda Investments Limited, a corporation that was dissolved in 1995, and restores it to its legal status as of the date of dissolution.
Bill PR3 is a special law that brings back (revives) a company called Gilda Investments Limited. The company was officially dissolved on January 21, 1995 because it failed to follow requirements under the Corporations Information Act. Gilda Lucy Price, the executor of her late mother's estate (Hanka Ann Hilary, who was the company's sole owner and director), applied for this special legislation to restore the company. According to the bill, business had continued to be done in the company's name even after it was dissolved. The bill restores the company to the same legal position it had on the day it was dissolved, including all its property, rights, and obligations. However, this restoration does not affect any rights that other people may have acquired after the company was dissolved. The law comes into force immediately upon receiving Royal Assent, which happened on December 11, 2025.
- Revives Gilda Investments Limited as a corporation
- Restores the corporation to its legal position as of January 21, 1995 (the date of its dissolution)
- Returns all property, rights, privileges, and franchises the corporation had at the time of dissolution
- Restores all liabilities, contracts, disabilities, and debts the corporation had at the time of dissolution
- Preserves any rights acquired by other persons after the dissolution
- Comes into force on Royal Assent (December 11, 2025)
- Gilda Lucy Price (the applicant and executor of Hanka Ann Hilary's estate)
- Gilda Investments Limited (the revived corporation)
- Creditors and other parties with claims against the corporation at the time of dissolution
- Any person who acquired rights related to the corporation after its dissolution (their rights are preserved)
- Gilda Investments Limited regains all rights and privileges it had before dissolution
- Gilda Investments Limited becomes subject to all liabilities, contracts, disabilities, and debts it had before dissolution
- Rights acquired by third parties after dissolution are not affected by this revival
- January 21, 1995: Date of original dissolution of Gilda Investments Limited
- December 11, 2025: Royal Assent received and Bill PR3 comes into force
- The bill does not specify what property, rights, or liabilities the corporation actually held at the time of dissolution
- The bill does not detail what happens if the corporation's assets have been dealt with or distributed since 1995
- The bill does not explain the procedure for the corporation to come into compliance with the Corporations Information Act going forward
- The bill preserves rights acquired by third parties after dissolution but does not detail what those rights are or how they will be handled
The dissolution of Gilda Investments Limited under section 241(4) of this Act is reversed by this bill's revival provision
Source: Section 1 and Preamble
Non-compliance with this Act caused the original dissolution of Gilda Investments Limited in 1995
Source: Preamble
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