Section 86 - New issues of share capital to be only of two kinds. - Companies Act, 1956

New issues of share capital to be only of two kinds. [1] [86. 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. [2] (b) preference share capital.] ------------------------------------ Notes:- [1] Substituted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000 for the following: "86. New issues of share capital to be only of two kinds. The share capital of a company limited by shares formed after the commencement of this Act, or issued after such commencement, shall be of two kinds only, namely: (a) equity share capital; and (b) preference share capital." [2] See Companies (Issue of Share Capital with Differential Voting Rights) Rules, 2001.