95. Section 25 of the Act of 2018 is amended—

(a) in subsection (3), by—

(i) the substitution of “Subject to subsection (3A), a technological university” for “A technological university”, and

(ii) the deletion of “, with the consent of the Minister and the Minister for Public Expenditure and Reform”,

and

(b) by the insertion of the following subsection after subsection (3):

“(3A) A technological university shall obtain the consent of the Minister and the Minister for Public Expenditure and Reform if the company concerned referred to in subsection (3) is formed for purposes other than the manufacture or development of a product, service or process, or the creation and use of intellectual property connected therewith for commercial purposes, arising from the conduct of research or the undertaking of innovation activity by the technological university.”.