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.".
