Legislation – Advanced Research and Invention Agency Act 2022

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Introduction

1 Establishment of ARIA

2 ARIA’s functions

3 Ambitious research, development and exploitation: tolerance to failure

4 Grants to ARIA from the Secretary of State

5 National security directions

6 Information

7 Transfer schemes

8 Power to dissolve ARIA

9 Consequential amendments

10 Regulations

11 Interpretation

12 Extent

13 Commencement

14 Short title

SCHEDULES

SCHEDULE 1 The Advanced Research and Invention Agency

SCHEDULE 2 Transfer schemes

SCHEDULE 3 Consequential amendments

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The Advanced Research and Invention Agency

3Ambitious research, development and exploitation: tolerance to failure

In exercising any of its functions under this Act, ARIA may give particular weight to the potential for significant benefits to be achieved or facilitated through scientific research, or the development and exploitation of scientific knowledge, that carries a high risk of failure.