38. Substitution of new section for section 86.- For section 86 of the principal Act, the following section shall be substituted, namely:— "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.". |