Expiration of the period of operation of notification under section 54.

On expiration of the period of operation of the notification issued under section 54, the provisions of this Act, as modified in application to the university mentioned in the notification shall cease to operate in respect thereof and the other relevant provisions of this Act shall revive and continue to apply thereto; Provided that the expiration of the operation of the notification shall not affect:

1. (a) Previous operation of, or any thing done or suffered under the provisions so modified in any order made thereunder: or
2. (b) any right, privilege, obligation or liability acquired, accrued or incurred under the provisions as modified or any order made thereunder: or
3. (c) any investigation or remedy in respect of any such right, privilege, obligation or liability as aforesaid, and such investigation or remedy may be instituted, enforced as if the modified provisions had not ceased to apply.