241 (1) If the Director is notified by the Minister of Finance that a corporation is in default of complying with any of the following Acts, the Director may give notice to the corporation in accordance with section 263, or by publication in accordance with the regulations, that an order dissolving the corporation will be issued unless the corporation remedies its default within 90 days after the notice is given: 0.1  Liquor Tax Act, 1996. 1.  Corporations Tax Act. 2.  Employer Health Tax Act. 3.  Fuel Tax Act. 4.  Gasoline Tax Act. 5.  Land Transfer Tax Act. 6.  Retail Sales Tax Act. 6.1  Taxation Act, 2007. 7.  Tobacco Tax Act.  2004, c. 31, Sched. 4, s. 1; 2008, c. 19, Sched. V, s. 1; 2010, c. 1, Sched. 1, s. 12; 2018, c. 12, Sched. 2, s. 51; 2017, c. 20, Sched. 6, s. 33 (1); 2019, c. 15, Sched. 2, s. 29. Same (2) If the Director is notified by the Commission that a corporation has not complied with sections 77 and 78 of the Securities Act, the Director may give notice to the corporation in accordance with section 263, or by publication in accordance with the regulations, that an order dissolving the corporation will be issued unless the corporation complies with sections 77 and 78 of the Securities Act within 90 days after the giving of the notice. 2017, c. 20, Sched. 6, s. 33 (2). Same, non-filing (3) If a corporation fails to comply with a filing requirement under the Corporations Information Act
or fails to pay a fee required under this Act, the Director may give notice to the corporation in accordance with section 263, or by publication in accordance with the regulations, that an order dissolving the corporation will be issued unless the corporation, within 90 days after the notice is given, complies with the requirement or pays the fee. 2017, c. 20, Sched. 6, s. 33 (2). Dissolution order (4) Upon default in compliance with the notice given under subsection (1), (2) or (3), the Director may by order cancel the certificate of incorporation and, subject to subsections (5) and (9), the corporation is dissolved on the date fixed in the order. 2015, c. 38, Sched. 7, s. 44 (10). Order revoking dissolution order (5) The Director shall make an order revoking a dissolution order made under subsection (4) if, (a)  the corporation was dissolved under subsection (4) or a predecessor of it and has not been revived under subsection (9); and (b)  the Director receives from the Minister responsible for the administration of the Forfeited Corporate Property Act, 2015, the Minister of Northern Development and Mines or the Public Guardian and Trustee notice that, in his or her opinion, the revocation would be in the public interest. 2015, c. 38, Sched. 7, s. 44 (10). Same (5.1) The Director may make an order revoking a dissolution order made under subsection (4) if, (a)  there was no authority to make the dissolution order; (b)  there was an error in respect of the dissolution order; or (c)  the prescribed circumstances exist. 2017, c. 20, Sched. 6, s. 33 (3). Objections (6) The Minister responsible for the administration of the Forfeited Corporate Property Act, 2015, the Minister of Northern Development and Mines or the Public Guardian and Trustee shall not give notice under clause (5) (b) if any of the following circumstances applies: 1.  The Minister of Finance objects to the giving of the notice. 2.  The corporation was dissolved upon default in compliance with a notice described in subsection (2) and the Commission objects to the giving of the notice. 3.  The corporation was dissolved upon default in compliance with a notice described in subsection (3) and the Minister, as defined in subsection 1 (1), objects to the giving of the notice. 2015, c. 38, Sched. 7, s. 44 (10). Effect of order under subs. (5) (7) If an order is made under subsection (5), (a)  the order is effective on the date fixed in the order and the corporation is revived on that date; (b)  the corporation is deemed for all purposes never to have been dissolved, subject to the rights, if any, acquired by any person during the period of dissolution; and (c)  subject to subsection (8), the Director may give the corporation a new notice under subsection (1), (2) or (3) if the corporation does not remedy the default identified in the original notice of default or for any other default described in subsection (1), (2) or (3). 2015, c. 38, Sched. 7, s. 44 (10). Effect of order under subs. (5.1) (7.1) If an order is made under subsection (5.1), (a)  the order is effective as of the date of the dissolution order; and (b)  the corporation is deemed for all purposes never to have been dissolved, subject to the rights, if any, acquired by any person during the period of dissolution. 2017, c. 20, Sched. 6, s. 33 (3). Consultation before giving new notice (8) Within the 10-year period after a dissolution order is revoked under subsection (5), (a)  the Minister of Finance shall not give a new notice to the Director under subsection (1) without first consulting with the Minister responsible for the administration of the Forfeited Corporate Property Act, 2015, the Minister of Northern Development and Mines or the Public Guardian and Trustee, whichever one gave the notice described in clause (5) (b); (b)  the Commission shall not give a new notice to the Director under subsection (2) without first consulting with the Minister responsible for the administration of the Forfeited Corporate Property Act, 2015, the Minister of Northern Development and Mines or the Public Guardian and Trustee, whichever one gave the notice described in clause (5) (b); and (c)  the Director shall not give a new notice to the corporation under subsection (3) without first consulting with the Minister responsible for the administration of the Forfeited Corporate Property Act, 2015, the Minister of Northern Development and Mines or the Public Guardian and Trustee, whichever one gave the notice described in clause (5) (b). 2015, c. 38, Sched. 7, s. 44 (10). Revival (9) Where a corporation is dissolved under subsection (4) or a predecessor of it, the Director may, in his or her discretion, on the application of any interested person, revive the corporation and upon revival, the corporation shall be deemed for all purposes never to have been dissolved, subject to, (a)  subsection (10) or (11), as the case may be; (b)  any terms and conditions the Director sees fit to impose in respect of the revival; and (c)  the rights, if any, acquired by any person during the period of dissolution. 2015, c. 38, Sched. 7, s. 44 (10). Definition (9.1) In subsection (9), “interested person” includes a director, officer and shareholder of the corporation. 2017, c. 20, Sched. 6, s. 33 (3). Effect of revival on forfeited corporate property (10) If a corporation that was dissolved under subsection (4) or a predecessor of it before the day section 2 of the Forfeited Corporate Property Act, 2015 comes into force is revived under subsection (9) on or after the third anniversary of the coming into force of that section, any property that forfeited to and vested in the Crown when the corporation dissolved remains forfeited to and vested in the Crown and shall not be returned to the corporation except in the manner provided in the Forfeited Corporate Property Act, 2015
or in the Escheats Act, 2015. 2015, c. 38, Sched. 7, s. 44 (10). Same (11) If a corporation that was dissolved under subsection (4) or a predecessor of it on or after the day section 2 of the Forfeited Corporate Property Act, 2015 comes into force is revived under subsection (9) on or after the third anniversary of the corporation’s dissolution, any property that forfeited to and vested in the Crown when the corporation dissolved remains forfeited to and vested in the Crown and shall not be returned to the corporation except in the manner provided in the Forfeited Corporate Property Act, 2015 or in the Escheats Act, 2015. 2015, c. 38, Sched. 7, s. 44 (10). Time limit for application (12) The application referred to in subsection (9) shall not be made more than 20 years after the date of dissolution. 2015, c. 38, Sched. 7, s. 44 (10). Articles of revival (13) The application referred to in subsection (9) shall be in the form of articles of revival. 2015, c. 38, Sched. 7, s. 44 (10); 2017, c. 20, Sched. 6, s. 33 (4). Certificate of revival (14) Subject to subsection (9), upon receipt of articles of revival and any other required documents and information, the Director shall endorse the articles, in accordance with section 273, with a certificate which shall constitute the certificate of revival. 2017, c. 20, Sched. 6, s. 33 (5). Section Amendments with date in force (d/m/y) 1998, c. 18, Sched. E, s. 26 (1) - 01/03/1999; 1999, c. 12, Sched. F, s. 9 - 27/03/2000 2004, c. 31, Sched. 4, s. 1 - 01/05/2006 2006, c. 34, Sched. B, s. 37 - 01/08/2007 2008, c. 19, Sched. V, s. 1 - 01/01/2009 2010, c. 1, Sched. 1, s. 12 - 01/07/2010 2015, c. 38, Sched. 7, s. 44 (10) - 10/12/2016 2017, c. 20, Sched. 6, s. 33 (1-5) - 19/10/2021 2018, c. 12, Sched. 2, s. 51 - 16/11/2018 2019, c. 15, Sched. 2, s. 29 - 29/11/2021