13 duties imposed under Part IV. (4) The Third Schedule shall apply to the qualifications of members of the Committee, their terms and conditions of office, vacation of office, suspension and dismissal, and to the procedure to be followed by the Committees at its meetings. PART III BANK USE PROMOTION 10 Traders, parastatals and moneylenders to open and keep accounts with financial institutions Every— (a) trader registered or required to be registered in terms of the Value Added Tax [Chapter 23:12]; and (b) parastatal; and (c) moneylender; shall open and keep open an account with a financial institution. 11 Traders and parastatals to bank surplus cash in an account within a certain time (1) Every trader, and parastatal shall, unless it has good cause for not doing so, deposit in an account with a financial institution no later than the close of normal business hours on the day following that on which the cash is received or on the next banking day— (a) cash that is surplus to the requirements of the trader or parastatal; or (b) cash in excess of ten million dollars (or such other amount in excess of ten million dollars as the Minister may prescribe from time to time); whichever is the lesser amount. (2) A trader or parastatal shall have the burden of proving, to the satisfaction of an inspector, police officer or any court, that it has good cause for not complying with subsection (1). 12 Traders and parastatals to settle certain trade debts otherwise than in cash (1) Every trader and parastatal shall, unless it has good cause for not doing so, settle otherwise than in cash every one of its trade debts that exceeds five million dollars (or such other amount in excess of five million dollars as the Minister may prescribe from time to time). (2) A trader or parastatal shall have the burden of proving, to the satisfaction of an inspector, police officer or any court, that it has good cause for not complying with subsection (1). 13 Records to be kept by traders and parastatals Every trader and parastatal shall keep records clearly showing— (a) its cash receipts on each day; and (b) its cash payments on each day and the person to whom and purpose for which such