What is the meaning of s. 364(4) of the Corporations Act?

The meaning of s. 364(4) was considered in the decision of this court in Saini v. Grand Forks (City), 2011 BCSC 320, in the context of a tax sale of property owned by a corporation, which had been dissolved and subsequently restored. The court said at paras. 13 and 14: 13 It has been said that a corporation is: ... a legal person and like a human person lives from birth to the moment of death. It is a creature of statute. It is born on incorporation: It dies upon dissolution. 14 The City’s submission that the tax sale is a nullity places a great deal of emphasis on the "death" of the Company on dissolution. However, while a dissolved corporation has been compared to a dead person, the analogy is not entirely apt: Short of the miraculous, a man once dead remains so, while a corporation once dissolved is routinely revived. The state of a company while dissolved but capable of revival has been characterized more aptly as "one of qualified rather than absolute dissolution."