“Provided that a scholarship may be awarded to any candidate who, as a student of a University in New Zealand, has been credited in any year with passes, at a level of attainment acceptable to the Board for the purpose, in subjects or units which constitute a full-time course within the meaning of the University Bursaries Regulations 1966 or of any regulations passed in amendment thereof or substitution therefor; and, for the purposes of an award under this proviso, paragraph (c) of this section shall be read, in relation to the candidate to whom the award is made, as if the reference to the date of the award were a reference to the thirty-first day of December immediately preceding the date on which he first matriculated as a member of a University in New Zealand:”.