1976998 Ontario Inc. Act, 2025

Summary#

This private bill brings back a single Ontario company, 1976998 Ontario Inc., that was voluntarily closed in 2023. It restores the company as if it had never been dissolved, so it gets back its rights and property and also takes back its debts and duties. Rights that other people gained after the company was closed are kept. The law takes effect when it becomes law (Royal Assent).

• Revives 1976998 Ontario Inc. so it can operate again under the same name and number.
• Restores past contracts, property, and legal rights, and also past debts and obligations.
• Protects any rights others gained after the company was dissolved.
• Lets the former directors and owners continue business in the company’s name.

What it means for you#

• Customers and suppliers of 1976998 Ontario Inc.:

  • You can do business with the company again under the same corporate identity.
  • Old contracts from before the dissolution count again, unless someone else’s rights now limit them.

• Creditors and lenders:

  • The company is responsible again for any unpaid debts it had when it was dissolved.

• Former directors and shareholders:

  • You can run the business again through the corporation.
  • Normal corporate duties resume, like filings, taxes, and record-keeping.

• People who gained rights after the dissolution (for example, bought company property or got a new right involving it):

  • Your rights remain in place; the revival does not take them away.

• General public:

  • No broad policy change. This bill affects only this one company.

Expenses#

No publicly available information.

Proponents' View#

• Lets a small business restart under its original company, which can save time and costs versus creating a new corporation.
• Restoring contracts and property can reduce disruption for customers, suppliers, and employees.
• Bringing back past debts and obligations helps protect creditors and other parties who relied on the company before it was dissolved.
• Narrow scope with little to no impact on the public.

Opponents' View#

• Using a law to fix a private business matter may feel like an inefficient use of legislative time.
• Reviving a company after a gap can create confusion about which contracts or dealings are in force.
• Even with protections, sorting out rights gained by others after dissolution can be complex and may lead to disputes.