grandfather clause

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Related to Grandfather rights: Grandfathered in
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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References in periodicals archive ?
Fewer than twenty-five nonbank banks currently claim the grandfather rights accorded in CEBA.
There are no longer any "grandfather rights" for this activity.
markets-national treatment and maintenance of rights lawfully acquired, that is, grandfather rights. Both elements are worth preserving; national treatment for the benefits it provides and grandfathering for practical and fairness reasons.
financial industry, objected strenuously when the EC was considering the elimination of grandfather rights for foreign banks, including U.S.
financial industry, objected strenuously when the European Community was considering the elimination of grandfather rights for foreign banks, including U.S.
Finally, under the provision, foreign banks would lose their grandfather rights for U.S.
In addition, this category includes nonbank activities conducted before the 1970 Amendments that are still being conducted under grandfather rights. Finally, one major bank holding company finances all of its subsidiaries through a funding subsidiary; the funding subsidiary is included under other nonbank for purposes of this reporting system.