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Kinds of Share Capital

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 voting 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.
While a company may issue equity shares capital with differential rights as to dividend, voting or otherwise, no preferential capital with any such differential rights could be issued.

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