AASB 1 First-time Adoption of Australian Accounting Standards D2-D3: Share-based payment: AASB 2 is encouraged but not required for equity instruments granted on or before 7 November 2002 or vested before the later of the transition date and 1 January 2005, and for liabilities settled before those dates; where applied, the fair value must have been disclosed publicly at the time

What does D2-D3 require?

Equity instruments whose grant date fell on or before 7 November 2002, or that were granted later but vested before the later of the transition date and 1 January 2005, may be accounted for under AASB 2 by choice only; the entity may do so only if it had publicly disclosed the grant-date fair value determined under AASB 2 at the time. Whether or not AASB 2 is applied to those grants, the AASB 2 paragraph 44 and 45 disclosures are still given. Modifications of unapplied grants before the transition date do not trigger AASB 2's modification accounting. Liabilities from cash-settled arrangements settled before the transition date or before 1 January 2005 are likewise exempt, and where AASB 2 is applied to such liabilities, no restatement of comparatives before 7 November 2002 is required.