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Additional Grant Condition: Asset Transfer to UK Research and Innovation

This Additional Condition will be incorporated into the Standard Grant Terms and Conditions when they are next updated in 2018.

1 The parties acknowledge that United Kingdom Research and Innovation will be established as a body corporate in accordance with the Higher Education and Research Act 2017 and that the property, rights and liabilities of the awarding Research Council will be acquired by United Kingdom Research and Innovation in accordance with the provisions of that Act.

2 The parties agree that on and with effect from the date on which the UKRI Property Transfer Scheme becomes effective in accordance with its terms (the Scheme Effective Date):

2.1 all rights and benefits of the awarding Research Council arising out of or in connection with this agreement; and

2.2 all obligations and liabilities of the awarding Research Council arising out of or in connection with this agreement, shall (in each case) be transferred to, and assumed by, United Kingdom Research and Innovation on the basis set out in the UKRI Property Transfer Scheme.

3 The grant awardee undertakes that, at any time and from time to time on or after the Scheme Effective Date, it will execute such documents and take such other action as the awarding Research Council may reasonably request in order to implement and give effect to (i) the transfer of the rights, benefits, obligations and liabilities of the awarding Research Council arising out of or in connection with this agreement to United Kingdom Research and Innovation; and (ii) the release and discharge of the awarding Research Council in respect of such obligations and liabilities.

4 In this clause UKRI Property Transfer Scheme means a property transfer scheme made by the Secretary of State in accordance with the provisions of Schedule 10 to the Higher Education and Research Act 2017 and references to transfer and transferred shall be construed as references to assignment, novation or to the steps which are necessary to give effect to the arrangements contemplated by this clause.

 


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