Tertiary Education and Research (Wales) Act 2022

106 Financial support for research and innovation: terms and conditions

(1) Financial resources may be provided by the Commission under section 105 on the terms and conditions that the Commission considers appropriate.

(2) The terms and conditions may (among other things)—

(a) enable the Commission to require the repayment, in whole or in part, of sums paid by it if any of the terms and conditions subject to which the sums were paid is not complied with;

(b) require the payment of interest in respect of any period during which a sum due to the Commission in accordance with any of the terms and conditions remains unpaid.

(3) The terms and conditions must not relate to the application of any sums derived otherwise than from the Commission.

(4) When—

(a) deciding to provide financial resources under section 105, and

(b) determining any terms and conditions of financial resources provided under that section,

the Commission must have regard to the principle that decisions on individual research or innovation proposals are best taken following an evaluation of the quality and likely impact of the proposals (such as a peer review process).