Advanced Research and Invention Agency Act 2022

2 ARIA’s functions U.K.

(1) ARIA may do, or commission or support others to do, any of the following—

(a) conduct scientific research;

(b) develop and exploit scientific knowledge;

(c) collect, share, publish and advance scientific knowledge.

(2) In exercising its function of supporting others, ARIA may, in particular—

(a) encourage, facilitate and provide advice;

(b) provide financial support by way of grants, loans, investments in companies or other entities, or in any other form (including prizes);

(c) make available rights or other property (including by way of loan, licence or gift or other transfer).

(3) Where ARIA provides financial support, or makes property available, it may do so subject to conditions.

(4) The conditions may, in particular, include provision under which—

(a) financial support is to be repaid or otherwise made good (with or without payment of interest);

(b) property is to be restored;

(c) information is to be provided to ARIA for the purpose of the exercise of any of its functions.

(5) The activities which ARIA may do, commission or support in exercising a function are not restricted to activities in the United Kingdom.

(6) In exercising its functions, ARIA must have regard to the desirability of doing so for the benefit of the United Kingdom, through—

(a) contributing to economic growth, or an economic benefit, in the United Kingdom,

(b) promoting scientific innovation and invention in the United Kingdom, or

(c) improving the quality of life in the United Kingdom (or in the United Kingdom and elsewhere).

Commencement Information

I1 S. 2 not in force at Royal Assent, see s. 13(1)

I2 S. 2 in force at 25.1.2023 by S.I. 2023/58, reg. 2