The International Cricket Council is all set to scrap the controversial constitutional amendments, which gave executive clout and financial power to India, Australia and England.
In its first meeting of 2016 after Shashank Manohar took over as ICC Chairman, the world body's Board agreed that the current system, put in place by controversial former head N Srinivasan, needed to be done away with.
"As such, the Board unanimously agreed to propose to the Full Council that a new Chairman should be elected by the Board for a two-year term commencing at the June 2016 Board meeting through a secret balloting process overseen by the ICC's independent Audit Committee Chairman," the ICC said in a statement.
"While in the office, the ICC Chairman will not be allowed to hold any post with any Member Board and may be re-elected at the expiry of the term with a maximum limit of three terms."
"To qualify to contest the election, it has been agreed that all nominees must be either a past or present ICC Board director and should have the support of at least two Full Member directors."
In fact the Manohar-led ICC suggested complete review of the constitutional changes made in 2014 by Srinivasan which gave enormous powers to the 'Big Three' with bulk of the revenue share going their way.
"To that end, the present composition of the committees will be reviewed in their entirety in June 2016," an ICC release stated.