3On and after the appointed day those bursaries which immediately before that day were governed by the University of St. Andrews (Scholarships and Bursaries) Scheme 1961 shall, with the exception of the bursaries referred to in paragraph 9(a) of Schedule 6 to this Act, continue to be bursaries in the University of St. Andrews and to be governed, as nearly as may be practicable, by the said scheme until a new scheme for their administration has been prepared under the provisions of the [1962 c. 47.] Education (Scotland) Act 1962, and has been approved by Her Majesty in Council.