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In a statement, the Otago University Medical Students Association said after the July production, it was brought to its attention that some people had been offended by racist and homophobic jokes.
"We are deeply sorry to anyone affected, including Dean Rathan Subramaniam, who has received a personal apology for our mistakes," the statement said.
Critic reported that Prof Subramaniam’s name was the subject of a joke during the revue.
The association thanked those who came forward with concerns.
"It is often uncomfortable to speak out and raise concerns, and we thank you for bringing this to our attention.
"Feedback is essential for our growth and the betterment of the community we are part of at Otago Medical School."
The association would be reflecting on what it chose to support in the future.
"OUMSA does not support racism, sexism, homophobia, and any other discriminatory behaviour.
"We recognise that in making light of these experiences we feed into the idea that these behaviours are OK. They very simply are not.
"Our actions trivialised the traumatic experiences members of our community feel."
It committed to "do better in upholding the mana of our community".
A University of Otago spokeswoman said to the best of her knowledge, the university had not received any complaints about the revue.
The Otago University Students Association had also not received any complaints.