Monitoring requirement for proceeds: registered credit rating agency must report quarterly and issuers must publish and file reports promptly. A registered credit rating agency must monitor use of issue proceeds for large public issues (excluding offers for sale), reporting quarterly in the Schedule XI format until full utilisation; banks, public financial institutions and insurance companies are excepted for specified securities. The issuer's board and management must provide comments on the monitoring findings, and the issuer must upload the report to its website and submit it to listed stock exchanges within forty five days of each quarter end.