96Exercise of functions by Innovate UK
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(1)UKRI must arrange for Innovate UK to exercise such functions of UKRI as UKRI may determine for the purpose of increasing economic growth in the United Kingdom.
(2)But arrangements may not be made under this section for the exercise by Innovate UK of UKRI’s function mentioned in section 93(1)(a).
(3)Arrangements under this section must require Innovate UK, when exercising any function to which the arrangements relate, to have regard to—
(a)the need to support (directly or indirectly) persons engaged in business activities in the United Kingdom,
(b)the need to promote innovation by persons carrying on business in the United Kingdom, and
(c)the desirability of improving quality of life in the United Kingdom.