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Decentralized Democracy

Ontario Assembly Bill

Ontario Bill PR34

43rd Parl. 1st Sess.
April 25, 2024
Bongo Studios Inc. Act, 2023
  • This is a law called the Bongo Studios Inc. Act, 2023. It is about reviving a company called Bongo Studios Inc. that was dissolved in 2006. The person applying for this law is a former shareholder of the company and wants to revive it to deal with some property that the company still owns. The law states that the company will be revived and restored to its previous legal position, including all its property and liabilities. The law will come into effect once it receives Royal Assent.
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SteelmanSpren in Favour

  • A steelman argument in favor of the Bill PR34 2023, also known as the Bongo Studios Inc. Act, can be presented as follows: Reviving Bongo Studios Inc. through this legislation is a justifiable action for several reasons. Firstly, the applicant, Sandy Irving-Harry, was a shareholder of the corporation when it was dissolved. As a former shareholder, she has a legitimate interest in the corporation and should have the opportunity to deal with the property held in its name at the time of dissolution. Secondly, reviving Bongo Studios Inc. would allow for the preservation and utilization of the corporation's assets. By restoring the corporation to its legal position, including all its property, rights, privileges, and franchises, the Act ensures that these assets are not lost or wasted. This can have positive economic implications, as the revived corporation may contribute to job creation, innovation, and overall economic growth. Furthermore, reviving the corporation does not absolve it of any liabilities, contracts, disabilities, or debts it had at the time of dissolution. The Act explicitly states that the corporation will be subject to all its previous obligations, ensuring that any outstanding debts or legal responsibilities are addressed appropriately. Lastly, the Act provides a clear and transparent process for reviving the corporation. It outlines the conditions under which the revival can occur and specifies that any rights acquired by third parties after dissolution will be respected. This ensures fairness and protects the interests of those who may have interacted with the corporation during its dissolved state. In conclusion, the Bongo Studios Inc. Act serves to rectify a situation where a former shareholder seeks to revive a dissolved corporation and deal with its remaining assets. By doing so, it promotes economic stability, protects the rights of stakeholders, and provides a clear legal framework for the revival process.

SteelmanSpren Against

  • Steelman Argument Opposing Bill PR34 2023: While it is understandable that Sandy Irving-Harry wishes to revive Bongo Studios Inc. in order to deal with certain property held by the corporation, it is important to consider the potential negative consequences of such a revival. This bill sets a dangerous precedent by allowing for the revival of a dissolved corporation, which undermines the principles of free market competition and personal responsibility. Firstly, reviving a dissolved corporation goes against the principles of the free market. When a corporation is dissolved, it is typically due to financial mismanagement or failure to meet legal obligations. Allowing for the revival of such a corporation sends the message that there are no real consequences for poor business practices. This undermines the integrity of the market and discourages responsible business behavior. Secondly, reviving Bongo Studios Inc. could potentially harm other businesses and individuals who have acquired rights or made contracts after the corporation's dissolution. By restoring the corporation to its previous legal position, these rights and contracts may be disregarded or invalidated. This creates uncertainty and unfairness for those who have interacted with the dissolved corporation in good faith. Furthermore, this bill fails to address the potential liabilities and debts of Bongo Studios Inc. By reviving the corporation without any provisions for addressing its previous financial obligations, it places an undue burden on taxpayers and other businesses. This is a clear example of government intervention that disregards the principles of personal responsibility and accountability. In conclusion, while the intention behind Bill PR34 2023 may be to address a specific situation, it sets a dangerous precedent that undermines the principles of the free market and personal responsibility. Reviving a dissolved corporation without addressing its liabilities and debts creates unfairness and uncertainty for other businesses and individuals. It is important to consider the long-term consequences and potential negative impacts before supporting such a bill.
Royal Assent
  • April 25, 2024, noon
  • Read
Third Reading
  • April 25, 2024, noon
  • Passed