HONGKONGDIR

HOMECompaniesDictionaryFAQs

Home » Dictionary » Law&EstatePlanning » grandfathered activities

Grandfathered Activities

Definition
Nonconforming or normally-illegal activities that are allowed to continue in certain situations, typically when they began before they were prohibited by an agreement, law, or regulation. For example, the Gramm-Leach-Bliley Act of 1999 banned chartering of a specific type of savings and loan holding companies (called unified thrift companies), but allowed the already chartered such companies to continue their operations.

Nearby Terms
Similar companies
Copyright © 2013 hongkongdir.com All Rights Reserved.
Provides public information about companies in the Hong Kong.