grandfathering

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Related to grandfather: Grandfather paradox

Grandfather Clause

A clause in a new law, regulation, or anything else that exempts certain persons or businesses from abiding by it. For example, suppose a country passes a law stating that it is illegal to own a cat. A grandfather clause would allow persons who already own cats to continue to keep them, but would prevent people who do not own cats from buying them. Grandfather clauses are controversial, but they are also relatively common.

grandfathering

An alteration of the rules that apply to a certain investment or investment technique while stipulating that investment actions taken before a certain date remain subject to the old rules. For example, Congress may change the law by stipulating that certain types of municipal bonds no longer pay tax-free interest while at the same time grandfathering the municipal bonds issued before the date on which the new law is to take effect.

grandfathering

An expression used to describe a statutory or contractual willingness to allow some activities or former rights to continue even though not technically allowed under current conditions. For example, downtown zoning regulations no longer allow gas stations in the area, but Fred's Fuel was doing business before the zoning laws went into effect,so it is grandfathered and can stay in business.

References in periodicals archive ?
Aica added that it was not the first time that her grandfather had a stolen shot posted online.
BBC content director Charlotte Moore said: "Gary is one of the country's most popular presenters and this is a fascinating chance to explore the war through his grandfather's unique experiences."
Madiba's longtime employee and friend, Mike Maponya, arrived at his house in a black BMW and ordered him to come back with him to his grandfather's house.
The first thing I noticed, after pushing my glasses up higher on my nose, was how healthy my grandfather looked compared to the last time I'd seen him alive.
Fu said that although her grandfather lived a frugal life, he had always supported her in whatever she wanted to do.
Miss Randell said Gillott transferred money within accounts, used the overdraft facility and completely emptied his grandfather's ISA account which had held just over PS7,000.
Through my grandfather's personal papers, newspaper clippings and long-buried state records, I found a man - brilliant, thoughtful and sensitive - who witnessed great human drama and suffering in the Death House, and in the process became a determined opponent of capital punishment.
It was only a matter of time that it all caught up to my grandfather, but the smoke was part of his essence.
The information here is all I know about my maternal grandfather, because my grandmother never spoke too much about him.
A young boy hurries to dress so he and his grandfather can be the first ones in their neighborhood to step outside after a snowfall.