The Companies Act, 1956
86. New issues of share capital to be only of two kinds.
1[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.]
1. Subs. by Act 53 of 2000, sec. 38, for section 86 (w.e.f. 13-12-2000).