(1) On the submission under section 53 by the University of guidelines for approval, the Minister may—
(a) approve the guidelines; or
(b) refer the guidelines back to the University for amendment in accordance with any comments the Minister may make; or
(c) refuse to approve the guidelines.
(2) The Minister may make interim guidelines for or with respect to the matters specified in section 53 pending—
(a) the submission of guidelines by the University; or
(b) the approval by the Minister of guidelines submitted by the University.
(3) Unless sooner revoked by the Minister, interim guidelines made under subsection (2) operate until the Minister approves guidelines submitted by the University.