The Commission must promote tertiary education and research in a way that contributes to the development of a sustainable and innovative economy in Wales.

In discharging this duty, the Commission must have regard (among other things) to the reasonable requirements of industry, commerce, finance, the professions, other employers and workers.

For the purpose of subsection (1), a sustainable economy is an economy in which the needs of the present are met without compromising the ability of future generations to meet their own needs.