Investment Company amendments act of 1970 - It is the amendment to the Investment company act of 1940, which happen in 1970. It is to regulating the sale chargers and withdrawal penalties from a mutual fund. The act also set the maximum load fee that mutual fund can charge to an investor can determines how the fees may be set in the accumulation plans for the securities. That the established regulation of the 1940?s act that are concerning of the sales charges, fees and the withdrawal penalties. With this amendment to the act a new term the 12b-1 fee was created to help with extra charges made to an investor.