(1) The Institute of Professional Studies Act, 1999 (Act 566) is hereby repealed.

(2) Despite subsection (1) the Statutes, Regulations, Bye-laws, notices, orders, directions, appointments, policies, instructions, guidelines or any other act lawfully made or done under the authority of the Institute of Professional Studies Act, 1999 (Act 566) not being inconsistent with this Act shall continue in force as if made or done under this Act and shall continue to have effect until reviewed, cancelled or terminated.