grandfather provision

grandfather provision
grandfather provision grandfather provision provision

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grandfather provision UK US noun [C] US LAW
GRANDFATHER CLAUSE(Cf. ↑grandfather clause)

Financial and business terms. 2012.

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  • provision — pro‧vi‧sion [prəˈvɪʒn] noun 1. [uncountable] the act of providing something that someone needs: • the provision of childcare facilities at work • provision for people with disabilities 2. make provision( s) to make plans for future needs: make… …   Financial and business terms

  • grandfather clause — n: a clause creating an exemption (as from a law or regulation) based on circumstances previously existing; specif: a provision inserted in the constitutions of some southern states after the Civil War requiring high standards of literacy and… …   Law dictionary

  • grandfather clause — Provision in a new law or regulation exempting those already in or a part of the existing system which is being regulated. An exception to a restriction that allows all those already doing something to continue doing it even if they would be… …   Black's law dictionary

  • grandfather clause — Provision in a new law or regulation exempting those already in or a part of the existing system which is being regulated. An exception to a restriction that allows all those already doing something to continue doing it even if they would be… …   Black's law dictionary

  • Grandfather clause — A grandfather clause is a term used in U.S. English for an exception that allows an old rule to continue to apply to some existing situations, when a new rule will apply to all future situations. It is often used as a verb: to grandfather means… …   Wikipedia

  • grandfather clause — A provision included in a new rule or regulation that exempts a business that is already conducting business in the area addressed by the regulation from penalty or restriction . Bloomberg Financial Dictionary * * * grandfather clause grandfather …   Financial and business terms

  • grandfather clause — 1. U.S. Hist. a clause in the constitutions of some Southern states after 1890 intended to permit whites to vote while disfranchising blacks: it exempted from new literacy and property qualifications for voting those men entitled to vote before… …   Universalium

  • grandfather clause —  A provision in a law exempting existing individuals or businesses from the requirements of a new law.  ► “Although banks are barred from selling insurance, Chase and a few others have grandfather clauses that exempt them.” (Advertising Age, May… …   American business jargon

  • grandfather clause — A clause in a licensing statute which exempts persons already engaged in the regulated business or occupation. Application of Richardson, 199 Okla 406, 24 P2d 642. A provision in a statute requiring a certificate of public convenience and… …   Ballentine's law dictionary

  • grandfather clause — noun Date: 1900 a clause creating an exemption based on circumstances previously existing; especially a provision in several southern state constitutions designed to enfranchise poor whites and disenfranchise blacks by waiving high voting… …   New Collegiate Dictionary

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