 David Richardson ICC Chief Executive IslandStats.com
The measures agreed by the International Cricket Council (ICC) will overhaul the sport's governance, competitions and finances.
A new revenue-sharing agreement will give the lion's share of money to the 'Big Three' nations.
Associate members, including Ireland and Scotland, will also now have the chance to play Test cricket.
Under the changes, the World Test Championship idea has been scrapped and the Champions Trophy will return in 2017.
India board president Narainswamy Srinivasan will become ICC chairman for two years from July.
The changes, which still need to be formally adopted by the ICC council, will see the formation of a new executive committee of five members, with the England and Wales Cricket Board (ECB), Cricket Australia (CA) and Board of Control for Cricket in India (BCCI) all guaranteed a place.
The ICC's executive board - a panel on which all 10 Test-playing nations sit - currently agrees all major decisions.
Among the other key principles are the scrapping of the planned World Test Championship and the introduction of a new two-tier system that will give ICC associate members the chance to play Test cricket with the introduction of play-offs against the lowest-ranked Test nation.
The six leading associate members - Afghanistan, Canada, Ireland, Kenya, Netherlands and Scotland - currently have one-day international and Twenty20 status, but are not able to play Test matches.
This means if Bermuda can return to the glory days of 2005, the possibility of playing a Test Match can become a reality.
And the ICC's 10 full members - Australia, Bangladesh, England, India, New Zealand, Pakistan, South Africa, Sri Lanka, West Indies and Zimbabwe - will no longer be obliged to play each other regularly after the Future Tours Programme was scrapped in favor of bilateral agreements between nations to cover Test series between 2015 and 2023.
Eight of the 10 full members voted in favor, with Pakistan and Sri Lanka choosing to abstain.
England Cricket Board boss Giles Clarke is adamant changes are necessary and says all countries will profit financially if England, India and Australia are given more power to negotiate broadcasting and marketing deals on behalf of the ICC.
"All countries earn more through this proposal," said Clarke. "No member would earn less and, if our predictions are correct, most will earn an awful lot more. How can that be bad for cricket?"
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