Overview

These Lords Amendments to the Advanced Research and Invention Agency (ARIA) Bill modify ARIA's powers and clarify its legal status. Key changes include granting ARIA greater control over intellectual property and defining its relationship with existing legislation, specifically regarding data protection and freedom of information.

Description

The amendments significantly alter several clauses and schedules of the ARIA Bill. Clause 2 gives ARIA the power to convert financial support into equity stakes in recipient businesses and requires consent for the transfer of UK intellectual property rights or controlling interests outside the UK for 10 years following support. Clause 8 allows consequential amendments to existing legislation to accommodate ARIA’s establishment. Clause 10 is removed. Clause 11 is amended to refer to regulations under section 8. Clauses 12 and 14 contain minor amendments. Schedule 1 is amended, and Schedule 3 is largely removed. Importantly, Schedule 3's amendments define ARIA as a "public authority" under various Acts including the Income Tax Act 2003, the Small Business, Enterprise and Employment Act 2015, the Enterprise Act 2016, the Data Protection Act 2018, and related regulations, clarifying its obligations concerning data protection, freedom of information, and other regulatory frameworks. Finally, the amendments adjust the UK GDPR to reflect ARIA's inclusion.

Government Spending

The amendments do not directly specify changes to government spending. The bill's financial implications would be related to ARIA's operational budget and investment activities, but specific figures are not provided in the amendment text.

Groups Affected

• Businesses receiving ARIA funding: These businesses will face increased oversight concerning intellectual property and control of their entities for a decade after receiving funding.
• Government departments: They will need to adapt their processes and regulations to accommodate ARIA's status as a "public authority" under various Acts.
• Individuals and organisations interacting with ARIA: Their interactions may be subject to ARIA's obligations under freedom of information laws.

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