grandfather clause

Definitions

Construction

  • A clause that allows activities that were legal under an old law to continue under a superseding law.

Economics

  • A provision in an agreement, including the GATT but not the WTO, that allows signatories to keep certain of their previously existing laws that otherwise would violate the agreement.

Human Resources

  • noun a clause in an insurance policy that exempts a category of insured employee from meeting new standards
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