The 16-man board first discussed the controversial measures, which seek to overhaul "the governance, competition and financial models" of the ICC in Dubai on January 28, but voting on proposals was deferred until Saturday's follow-up meeting in Singapore.
The ICC's president Alan Isaac said: "The board has made some significant decisions today which provide us with long-term certainty in relation to the future governance, competition and financial models of the ICC.
The government contends that this dual governance reduces competition.
These approaches can yield results without compromising principles of governance, transparency, competition, and efficiency.
There is much that we can do to tackle crony capitalism: restrain bonuses, improve corporate governance, enhance competition in key markets, and toughen up supervisory bodies.
'Structural' is jargon for problems affecting - more jargon - the 'supply side' of the economy: fashionable subjects affecting the supply side include everything from corporate governance to competition policy, and from labour market reform to privatisation.
Then, there are governance issues.
These measures will win the government some friends and make it no enemies outside the Catholic church, and even the church is shifting on some issues.Some other reforms are less certain, but would be just as desirable: stricter corporate governance, a stronger competition court, an end to the pro-government bias in parliamentary committees and the depoliticisation of Spain's large companies.
Climate change, combined with population growth and weak governance, has intensified competition over scarce resources as well as changing migration patterns, increasing the risk of conflict, it said.
"Dual governance has promoted competition," Mr. Gallo said, and abolishing it would help American Express and risk MasterCard's position relative to its larger ally, Visa.
