In RMSS, casting a spell is a 75% action (spell preparation is 90%). If you don't have 75% activity available, you wouldn't be able to cast the spell. Instant spells are only 10%, though, so you would still be able to cast an instant spell if you knew one. Generally I would stick to that, but maybe try with a penalty if the character is stuck at 50% for a long time and there's nothing going on (i.e., outside of combat), on the principle that they could do it very slowly if nothing is interrupting them. Depends why they are at half activity I guess.
In RMU, casting a spell is 2-4 AP, out of a normal 4 AP per round, which means you would still be able to cast if you only have half the round (2 AP) but it would be at -50.