A company cannot appoint a sole selling agent
of any area
for a term exceeding 5 years
at a time.
But it can re-appoint, or extend
the term of office
by further period
not exceeding 5 years
on each occasion.
The Board of directors
“shall not appoint a sole selling agent
for any area
except subject to the condition
that the appointment shall cease to be valid
it is not approved by the company
in the first general meeting
held after the date
on which the appointment is made"