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2003 Legislative Session: 4th Session, 37th Parliament

FIRST READING

The following electronic version is for informational

purposes only.

The printed version remains the official version.

MR. VAL ANDERSON

BILL Pr 401 – 2003

ASH DEVELOPMENTS LTD.

(CORPORATE RESTORATION) ACT, 2003

Contents

Section

Definitions

Company restored

Company continued

Rights

WHEREAS the Strata Corporation known as Strata Plan VR 2215, of the City of Vancouver, in the Province of British Columbia, has by its petition represented

(

a) that Ash Developments Ltd. (the "Company") was incorporated

in British Columbia on December 22, 1982 under Certificate of Incorporation

No. 258164 issued pursuant to the Company Act , R.S.B.C. 1979,

c. 59, in effect as at that date,

(

b) that the Company was struck off the Register of Companies on May 17, 1991,

(

c) that the petitioner has a lawful cause of action against the Company, which cause of action accrued at some point before the Company was struck off the Register of Companies,

(

d) that it will not be possible to issue and commence an action against the Company unless the Company is revived, and

(

e) that since the Company was a corporation to which the Company Act applied and since there is no provision in that Act for the revival of a company more than 10 years after it has been dissolved, the Company cannot be revived except by a special Act of the Legislature of British Columbia;

AND

WHEREAS Strata Plan VR 2215 has by its petition requested that it be enacted as follows, and it is expedient to grant the request in the petition;

THEREFORE, HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

Definitions

1 In this Act:

"Company" means Ash Developments Ltd. (Incorporation No. 258164);

"Register" means the Register of Companies;

"Registrar" means the Registrar of Companies.

Company restored

2 The Company is restored to the Register under the corporate name Ash Developments Ltd. for a period of 2 years commencing on the date that a copy of this Act, certified by the Law Clerk of the Legislative Assembly, is filed with the Registrar.

Company continued

3 On its restoration, the Company is deemed to have continued in existence as if it had never been struck off the Register.

Rights

4 Nothing in sections 2 and 3 prejudices the rights of any person that were acquired before the date on which the Company is restored to the Register.

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