The International Cricket Council has agreed in principle to new changes to the financial model and governance structure, including restricting the power of 'Big Three'.
After its meeting in Dubai, the governing body of cricket said that the principles agreed include a revised financial distribution ensuring a more equitable distribution of revenues and the equal weight of votes for all board members regardless of membership status.
Another proposal is that top nine Test-playing countries will compete among themselves in a rolling two-year league and against the three lower-ranked teams.
Zimbabwe, Ireland and Afghanistan are also to become full or Test members if they met membership criteria.
The decisions taken will be up for final approval once again in April 2017