Section 209 — Canada Business Corporations Act: Revival

When a corporation or other body corporate is dissolved under this Part, section 268 of this Act, section 261 of the Canada Business Corporations Act , chapter 33 of the Statutes of Canada, 1974-75-76, or subsection 297(6) of the Canada Not-for-profit Corporations Act , any interested person may apply to the Director to have the dissolved corporation or other body corporate revived as a corporation under this Act. Articles of revival in the form that the Director fixes shall be sent to the Director. On receipt of articles of revival, the Director shall issue a certificate of revival in accordance with section 262, if the dissolved corporation or other body corporate has fulfilled all conditions precedent that the Director considers reasonable; and there is no valid reason for refusing to issue the certificate. The dissolved corporation or other body corporate is revived as a corporation under this Act on the date shown on the certificate of revival. Subject to any reasonable terms that may be imposed by the Director, to the rights acquired by any person after its dissolution and to any changes to the internal affairs of the corporation or other body corporate after its dissolution, the revived corporation is, in the same manner and to the same extent as if it had not been dissolved, restored to its previous position in law, including the restoration of any rights and privileges whether arising before its dissolution or after its dissolution and before its revival; and liable for the obligations that it would have had if it had not been dissolved whether they arise before its dissolution or after its dissolution and before its revival. Any legal action respecting the affairs of a revived corporation taken between the time of its dissolution and its revival is valid and effective. In this section, interested person includes a shareholder, a director, an officer, an employee and a creditor of the dissolved corporation or other body corporate; a person who has a contract — other than, in Quebec, a contract by gratuitous title — with the dissolved corporation or other body corporate; a person who, although at the time of dissolution of the corporation or other body corporate was not a person described in paragraph (a), would be such a person if a certificate of revival is issued under this section; and a trustee in bankruptcy or liquidator for the dissolved corporation or other body corporate.