In case this deadline has induced any panic, it may be reassuring
to know that the CNCA does provide a process for reviving dissolved
corporations. A revival allows a corporation dissolved under
the CNCA to be restored to its legal position as at the date on the
Certificate of Revival in the same manner and to the same extent as
if it had not been dissolved. Any interested person can apply
for revival. An interested person can be a member, director,
officer, employee, creditor or anyone who would be a member,
director, officer, employee or creditor if the corporation were
revived. In addition, any person having a contractual
relationship with the dissolved corporation or a valid reason for
applying for revival (i.e. a trustee in bankruptcy or a liquidator)
is also considered an interested person and can apply to revive the
Corporations Canada may impose conditions on the revival. For
example, it may require notification to the directors or impose an
obligation to determine whether the corporation is up to date on
its reporting requirements. The corporation will need to be
brought into good standing under the CNCA, and if it is not, it can
be dissolved by Corporations Canada as early as 120 days after the
date on the Certificate of Revival.
Upon revival, any assets that became property of the Crown as a
result of the dissolution will be returned to the
corporation. If it is believed that money or property
should be returned to a revived corporation, a letter requesting
its return must be included with the application for revival, along
with a statutory declaration that:
the applicant is authorized to request the return of the
the property was owned by the corporation at the time of the
no other person has rights to claim against the property;
the revived corporation has the right to receive the whole or a
part of the property.This request will be processed after
While it is preferable to continue before the deadline, if you do
find yourself needing advice around the revival process, please
As a construction company that actively bids and works on larger infrastructure projects, you will likely be required to provide a signed certification in response to future Requests for Qualifications.
On November 14, 2016, the Securities and Exchange Commission ("SEC") announced an award of more than $20 million to a whistleblower who promptly provided the regulator with valuable information that allowed the SEC to commence an enforcement action against the wrongdoers before they could squander the money.
In the recent decision, 3716724 Canada Inc. v Carleton Condominium Corporation No. 375, the Ontario Court of Appeal found that the "business judgment rule" applies to decisions of boards of condominium corporations.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).