hordruma/ontario_laws_and_regs huggingface dataset:
40 (1) The directors are jointly and severally liable to the employees of the corporation for all debts not exceeding,  (a)  six months’ wages for services performed for the corporation that become payable while they are directors; and (b)  the vacation pay for not more than 12 months under the Employment Standards Act, 2000 or under any collective agreement entered into by the corporation accrued while they are directors.  2010, c. 15, s. 40 (1). Limitation (2) A director is liable under subsection (1) only if, (a)  the corporation is sued in the action against the director and execution against the corporation is returned unsatisfied in whole or in part; or (b)  before or after the action is commenced, the corporation goes into liquidation, is ordered to be wound up or makes an authorized assignment under the Bankruptcy and Insolvency Act (Canada), or a receiving order under that Act is made against it, and, in any such case, the claim for the debt has been proved.  2010, c. 15, s. 40 (2). Same (3) If execution referred to in clause (2) (a) has issued, the amount recoverable from a director is the amount remaining unsatisfied after execution.  2010, c. 15, s. 40 (3). Rights of director who pays debt (4) If a director pays a debt under subsection (1) that is proved in liquidation and dissolution or bankruptcy proceedings, the director is entitled to any preference that the employee would have been entitled to, and if a judgment has been obtained, the director is entitled to an assignment of the judgment.  2010, c. 15, s. 40 (4). Same (5) A director who has satisfied a claim under this section is entitled to contribution from the other directors who were liable for the claim.  2010, c. 15, s. 40 (5).
169 (1) If sufficient cause is shown to the Director, the Director may, after giving the corporation an opportunity to be heard, make an order upon the terms and conditions that the Director thinks fit cancelling the corporation’s certificate of incorporation, any other certificate issued to the corporation under this Act or a predecessor of this Act, its letters patent, supplementary letters patent, any other instrument by which the corporation was incorporated under a predecessor of this Act, or any amendments to such instrument, or an order issued under a predecessor of this Act accepting the surrender of its charter, accepting its application for termination of existence or reviving the corporation. 2017, c. 20, Sched. 8, s. 40. Same (2) The Director may make an order under subsection (1) despite the imposition of any other penalty for the same cause and in addition to any rights the Director may have under this or any other Act. 2017, c. 20, Sched. 8, s. 40. Written hearing (3) A hearing referred to in subsection (1) shall be in writing in accordance with the rules made by the Director under the
Statutory Powers Procedure Act. 2017, c. 20, Sched. 8, s. 40. Date of dissolution (4) In the case of the cancellation, under subsection (1), of a certificate of incorporation, letters patent or other instrument by which the corporation was incorporated under a predecessor of this Act, the corporation is dissolved on the date fixed in the order made under this section. 2017, c. 20, Sched. 8, s. 40. Effective date (5) In the case of the cancellation, under subsection (1), of any other certificate, supplementary letters patent, amendments to the instrument by which the corporation was incorporated under a predecessor of this Act or any order, the matter that became effective upon the issuance of the certificate, supplementary letters patent, amendment or order ceases to be in effect from the date fixed in the order made under this section. 2017, c. 20, Sched. 8, s. 40. Section Amendments with date in force (d/m/y) 2015, c. 38, Sched. 7, s. 55 (9) - no effect - see 2017, c. 20, Sched. 8, s. 60 - 14/11/2017 2017, c. 20, Sched. 8, s. 40 - 19/10/2021