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.]

1. Subs. by Act 53 of 2000, sec. 38, for section 86 (w.e.f. 13-12-2000).