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Grandfather Clause
(redirected from Grandfather rule)

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
Grandfather Clause
Any policy or rule that exempts a group of individuals, organizations, or drugs from meeting new standards or regulations—e.g., when a new subspecialty board in internal medicine is created, the physicians practising in that area may be ‘grandfathered’ into the subspecialty and not required to meet residency or other educational requirements

grandfather clause
Any policy or rule that exempts a group of individuals, organizations, or drugs, from meeting new standards or regulations; eg when a new subspecialty board in internal medicine is created, the physicians practicing in that area may be 'grandfathered' into the subspecialty and not required to meet residency or other educational requirements


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Using a Fiscal Year Under the Grandfather Rules An S corporation that used a fiscal year for the year that began in 1986 can continue using that fiscal year if it made the Sec.
The Londoner who Brian Flynn snaffled up on the grandfather rule looked a fine footballer in the two under-21 games.
Furthermore, the provisions would eliminate grandfather rules enacted by Congress in 2000 that explicitly allowed the FSC rules -- which were repealed in the same legislation -- to continue to apply fully to prior leasing transactions.
 
 
 
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