Section 88   [ View Judgements ]

Prohibition of issue of shares with disproportionate rights.


88. PROHIBITION OF ISSUE OF SHARES WITH DISPROPORTIONATE RIGHTS.

No company formed after the commencement of this Act, or issuing any share capital after such commencement, shall issue any shares (not being preference shares) which carry voting rights or rights in the company as to dividend, capital or otherwise which are disproportionate to the rights attaching to the holders of other shares (not being preference shares).

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