Bill PR40 explained in plain English
Step by Step Investments Inc. Act, 2026
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 PR40 revives the corporation Step by Step Investments Inc., which was dissolved in 2022, restoring its property, rights, and legal position as it existed before dissolution.
Bill PR40 is a special legislation act that brings a corporation called Step by Step Investments Inc. back to life. The corporation was dissolved (shut down) under Ontario's Business Corporations Act on March 30, 2022. Ernesto Imbrogno, who was the director and president of the company at the time, applied to have it revived so he could deal with property that belonged to the corporation when it was dissolved. The bill restores the corporation to the same legal position it had before it was dissolved. This means the corporation regains ownership of all its property, rights, privileges, and franchises (special rights or advantages). However, the corporation also becomes responsible again for all its liabilities (debts and obligations), contracts, and any other legal disabilities it had at the time of dissolution. There is one important limit: the revival does not affect any rights that other people or organizations may have acquired after the corporation was dissolved. This protects third parties who may have acquired property or other rights related to the dissolved corporation. The Act came into force on June 2, 2026, the date it received Royal Assent.
- Revives Step by Step Investments Inc., a corporation that was dissolved on March 30, 2022
- Restores the corporation to its legal position as of the date of dissolution, including all property, rights, privileges, and franchises
- Makes the corporation responsible again for all its liabilities, contracts, disabilities, and debts as they existed at dissolution
- Protects rights that were acquired by any person after the corporation's dissolution
- Comes into force on June 2, 2026 (the date of Royal Assent)
- Ernesto Imbrogno, the former director and president of Step by Step Investments Inc., who applied for the revival
- Step by Step Investments Inc., the corporation being revived
- Creditors and contract counterparties of Step by Step Investments Inc., as the corporation becomes responsible for its debts and contracts again
- Any persons or organizations that acquired rights related to the corporation's property or assets after the dissolution on March 30, 2022 (their rights are protected)
- Step by Step Investments Inc. regains all property, rights, privileges, and franchises it held at the time of dissolution
- Step by Step Investments Inc. becomes responsible for all liabilities, contracts, disabilities, and debts it had at the time of dissolution
- Persons or organizations that acquired rights after the dissolution retain those rights and are protected from the revival
- March 30, 2022: The date Step by Step Investments Inc. was dissolved under the Business Corporations Act
- June 2, 2026: The date the bill received Royal Assent and came into force
- The bill text does not specify what specific property, contracts, or debts the corporation held at dissolution, nor does it provide details about how disputes over such matters will be resolved
- The bill does not define what 'rights acquired by any person after its dissolution' means in practical terms or how such rights will be identified and protected
- The bill does not specify whether Ernesto Imbrogno automatically resumes his role as director and president, or whether shareholder/director proceedings are required
- The bill does not address tax liabilities or other government claims the corporation may have owed
- The bill does not explain the process for managing or liquidating the corporation's assets or settling its debts after revival
The bill references the Business Corporations Act as the law under which Step by Step Investments Inc. was dissolved. The revival under this special act effectively reverses the dissolution that occurred under that Act.
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