86 New issues of share capital to be only of two kinds

86. NEW ISSUES OF SHARE CAPITAL TO BE ONLY OF TWO KINDS

 

The share capital of a company limited by shares shall be of two kinds only, namely : -

(a) equity share capital -

(i) with voting rights ; or

(ii) with differential rights as to dividend, voting or otherwise in accordance with such rules and subject to such conditions as may be prescribed ;

(b) preference share capital.