Every person ordinarily resident in any part of the Cook Islands who on the coming into force of these regulations in that part is, or on any later date becomes, entitled to assign or to procure the assignment of any right to receive, elsewhere than in the Cook Islands or New Zealand, payment of any amount in a foreign currency in respect of any credit or balance at a bank or with any other person, shall, within 14 days after the commencement of these regulations, or within 14 days after such later date, as the case may be, do all things necessary for the purpose of assigning that right to the Minister, or to a person specified by the Minister for the purposes of this regulation, on behalf of the Government of New Zealand:
provided that the Minister, on application by or on behalf of the person concerned or by notice published in such manner as he thinks sufficient, may exempt any person from compliance with this subclause in respect of any matter or of matters of a specified class.