What is the extent to which the Companies Act empowers the Central Government

company unless such appointment has been previously approved by the Central Government.
5. A company having a paid-up share capital of Rs. 50 lakhs or more shall not appoint a sole selling agent except with the consent of the company accorded by a special resolution and the approval of the Central Government.
6. The Central Government may vary the terms and conditions of appointment of a sole selling agent if those are found to be prejudicial to the interests of the company.
7. In case a company has more than one selling agents in any area, the Central Government may declare anyone of such agents as the sole selling agent for such area.

Procedure for Appointment of Sole Selling Agents
1. Call a meeting of the Board of Directors and determine the name of the sole selling agent to be appointed. If the paid-up share capital of the company is less than Rs. 50 lakhs and the appointee doesn't have a substantial interest in the company, the Board may also resolve to appoint him as sole selling agent subject to the approval of the general body meeting. Date for the general body meeting may also be fixed by the Board in its meeting appointing the sole-selling agent.
2. In case the appointee either has a substantial interest in the company or the paid-up capital of the company is Rs. 50 lakhs or more, application for the approval of the Central Government should be made in Form I of the Companies (Appointment of Sole Agents) Rules, 1975.
3. See that the terms and conditions of appointment or re-appointment do not
contain the term exceeding 5 years at a time.
4. Issue notices for holding the general meeting. Where the paid-up capital of
the company is Rs. 50 lakhs or more, it shall require passing of a special
resolution; otherwise an ordinary resolution shall be sufficient.
5. Forward three copies of the notices and a copy of the proceedings of the
general meeting to the Stock Exchange(s) with which the shares of the com
pany are listed.
6. If the proposed sole selling agent is to be appointed in a foreign country, obtain
the prior permission of the Reserve Bank of India.
Q: 3. State the powers of the Central Government to prohibit the appointment of 'sole selling agents'.

OR
What is the extent to which the Companies Act empowers the Central Government
to regulate the appointment of sole selling agents? IC.A. (Final) Dec., 1990J
OR
Write the names of the industries where the appointment of sole selling agents has been prohibited by the Government.
.9l.ns. Section 294-AA empowers the Central Government to prohibit appointment of sole selling agents in certain cases. The provisions of Sec. 294-AA may be noted as follows: