BC370 The Board considered the transition provisions and effective date of the amendment to IFRS 2. The Board noted that the changes to the definitions of vesting conditions and market condition and the addition of performance condition and service condition might result in changes to the grant-date fair value of share-based payment transactions for which the grant date was in previous periods. To avoid the use of hindsight, it decided that an entity would apply the amendments to IFRS 2 prospectively to share-based payment transactions for which the grant date is on or after 1 July 2014. Earlier application should be permitted.