96Deposit to be proportion of trust account balances

##### 96 Deposit to be proportion of trust account balances (1) The deposit required to be lodged and maintained by a person or partnership under section 95 is an amount equal to two‑thirds (or, where a lesser proportion is prescribed, that proportion) of the lowest balance in the trust account maintained by the person or partnership during the period of 3 months ending on the quarter day last past. (2) Where a person or partnership maintains 2 or more trust accounts, the amount of the deposit required to be lodged and maintained by the person or partnership under section 95 shall be determined as if a reference in subsection (1) to the balance in the trust account at any time were a reference to the aggregate of the balances at that time in the trust accounts maintained by that person or partnership. (3) Nothing in this Part requires the lodging or maintaining of a deposit where, but for this subsection, the amount of the deposit would be less than $3,000. (4) Where, by reason of this Part, a person or partnership is required to increase an amount of money lodged with a stock exchange, the additional amount shall be lodged by that person or partnership not later than 5 trading days of that stock exchange after the relevant quarter day. (5) For the purposes of subsection (4): > relevant quarter day means the quarter day that is the last day of the period by reference to which the amount required to be lodged is calculated. > trading day, in relation to a stock exchange, means: (a) in the case of the Exchange—a day on which a stock market of an Exchange subsidiary; or (b) in any case—a day on which a stock market of the stock exchange; is open for trading in securities.