An Act to revive Coutu Gold Mines Limited — Private Bill PR1 (40th Parliament, 1st Session)

Bill PR1, 40-1

Ontario — Bills

1ST SESSION, 40TH LEGISLATURE, ONTARIO ELIZABETH II, 2012 Bill Pr1

An Act to revive Coutu Gold Mines Limited Mr. Orazietti Private Bill 1st Reading April 17, 2012 2nd Reading 3rd Reading Royal Assent Printed by the Legislative Assembly of Ontario Bill Pr1

An Act to revive Coutu Gold Mines Limited

Preamble Peter Coutu, Patrick Coutu, Christopher Coutu, Enid M. Coutu Geddes, Janet Coutu Barker and Nester J. Ere- chook have applied for special legislation to revive Coutu Gold Mines Limited. The app licants represent that Peter Coutu, Patrick Coutu, Christopher Coutu, Enid M. Coutu Geddes and Janet Coutu Barker are the beneficial owners of shares in the corporation th at were held by their father, Wilfrid H. Coutu, when the corporation was dissolved and, Wilfrid H. Coutu having died on February 29, 1980, which they inherit through the estate of their mother, Enid Mary Coutu, who died on May 14, 2010.

The applicants further represent that Nester J. Erechook was a director and shareholder of the corporation when it was dissolved. The corporation was dissolved under The Business Cor- porations Act, being

chapter of the Revised Statutes of Ontario, 1970, on June 21, 1972 for failure to comply with The Corporations Information Act , being

chapter of the Revised Statutes of Ontario, 1970. The applicants would like to revive the corporation in order to resume carrying on the business of the corporation before its dis- solution, namely mining exploration and investment. It is appropriate to grant the application. Therefore, Her Majesty, by and with the advice and con- sent of the Legislative Assembly of the Province of On- tario, enacts as follows: Corporation revived 1.

(1) Coutu Gold Mines Limited is revived and is, subject to any rights acquired by any person after its dis- solution, restored to its legal position, including all its property, rights, privileges and franchises and subject to all its liabilities, contracts, di sabilities and debts, as of the date of its dissolution, in the same manner and to the same extent as if it had not been dissolved. Restoration to legal position before dissolution excludes forfeited mining lands, rights, licences of occupation

(2) For greater certainty, any mining lands, mining rights or mining licences of occupation held by Coutu Gold Mines Limited as of the date of its dissolution that were forfeited to the Crown under the Mining Act after the date of its dissolution are excluded from the property, rights, privileges and franchises to which the corporation is restored by subsection (1). Limitation 2. This Act and the revival of the corporation shall not be construed as being determinative of any person’s rights to the assets or the shares of the corporation, the estate of Wilfrid H. Coutu or the estate of Enid Mary Coutu. Commencement 3. This Act comes into force on the day it receives Royal Assent.

Short title 4. The

short title of this Act is the Coutu Gold Mines Limited Act, 2012. ______________ EXPLANATORY NOTE The purpose of the Bill is set out in the

Preamble.

Document details

Collection	Ontario — Bills
Citation	Bill PR1, 40-1
Type	bill
Volume / chapter	p40 s1 bill pr1 bill text 40 1 en pr001.pdf
Language	en
Format	json
Source	PROVINCIAL
Identifier	1745df0d333c9c2bb5b253fa31e56c0c5028f6a9

Source file is stored in the law ingest library (json).