When Accounting for the Issue of Shares, Placing Application Monies

When accounting for the issue of shares, placing application monies in a separate cash trust account is required:

A) to meet the obligation by the company to remit the funds to ASIC.
B) because the bank requires it.
C) before the share issue is finalised as the money does not belong to the company and some or all of it may need to be refunded.
D) it is administratively easier for the company if the money is placed in a separate account.