Speed also said teams would be allowed only three fielders outside the field-restriction circle between the 16th and 30th overs, a change from the previous number of five. A maximum of five would still be allowed outside the circle from the 31st over to the end of the 50-over innings.
Coaches of state teams have praised the changes and the first match under the new rules, between New South Wales and South Australia, will be played on Oct 5, in Sydney.
Former international Dean Jones, who was considered the best limited-overs player of his time by his fellow Australians, gave cautious support for the move but warned Australia not to lose sight of the main game - winning the 1999 World Cup.
``We have to make sure when we are doing things we are not trying to put things up to justify our jobs,'' Jones said. ``Whatever we do has got to be a build-up to winning the World Cup. I don't mind a bit of change but they should be making the wickets better for one-day cricket.
``A pinch hitter may be a good idea . . . but it's upsetting because batsmen who pinch one's or two's, make two into three, now will struggle as we see an explosion of the bigger hitters.''
New South Wales coach Steve Small supported the move but admitted that commerce might have played a role in the changes.
``One-day cricket has probably become stereotyped in the last couple of years and anything that can generate interest has to be good for the game,'' Small said. ``One-day cricket is a good money-spinner and we have to keep it going as well as looking for more entertainment.''
South Australian coach Andrew Sincock said it was a refreshing move. ``Limited- overs cricket had become the most predictable cricket you could play. Any change is going to be exciting,'' Sincock said.
Surrey's Ben Hollioake has won the Cricket Writers' Club Young Cricketer of the Year award.