94.4. Except where it is submitted by a merchant referred to in section 25.2, an application for a permit or an application for the renewal of a permit must be accompanied in addition by:(a) a notice informing the president of the place where the reserve account of the merchant has been opened and of the number of such account;
(b) the undertaking by the trust company with which such reserve account has been opened in accordance with section 260.9 of the Act.