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Grandfather clause |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Commerzbank currently underwrites and deals in bank-ineligible securities through Commerzbank Capital Markets Corporation, New York, New York, pursuant to grandfather rights established by section 8(c) of the IBA. To those who still insist on term limits, I'd make a suggestion: no grandfather rights for incumbents. The duration of grandfather rights should also be reviewed. |
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