Meaning of “grandfathered” in the English Dictionary

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"grandfathered" in Business English

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uk /ˈɡrænfɑːðəd/ us US LAW

an activity, person, group, etc. that is grandfathered is not covered by a new law because of a grandfather clause:

Current investors will be grandfathered so the old rules apply to their existing accounts.

(Definition of “grandfathered” from the Cambridge Business English Dictionary © Cambridge University Press)