Usage of load account

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.... schemes. 1.2. The upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. 1.3. Exit load or CDSC charged to the investor, a maximum of 1% of the redemption proceeds shall be maintained in a separate account which can be used by the AMC to pay commissions to the dist....

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....reflect the balance as on July 31, 2009 and the other to reflect accretions since August 01, 2009. 3.2. The load balances can be used for marketing and selling expenses including distributor's/agent's commissions. 3.3. However, not more than one- third of load balance as on July 31, 2009 shall be used in any financial year including the current financial year 2010-11. It is clarified though the ....