India will lose the 2006 ICC Champions Trophy to Pakistan if the government does not grant tax exemption on revenues earned from the event.
The International Cricket Council's president, Ehsan Mani, said: "We've agreed to wait until May for the Indian government to give us their decision.
"The board has voted to move the event to Pakistan in case the proposed tax concessions don't come through."
Meanwhile, the ICC will also consider easing the demands on Test nations.
Currently, all 10 have to play each other home and away every five years.
But, following a meeting in Delhi, ICC management will now investigate a plan to switch to a six-year cycle, thereby reducing the amount of cricket played.
The other main items emerging from ICC Executive Board meeting were:
- Project USA terminated - A decision was taken to end the initiative to stage international cricket in the USA.
The game's administrators there have "failed to address governance issues", said the ICC.
- ICC Super Series - Matches between Australia and the Rest of the World XI gain official status.
- Kenya Cricket - The African Cricket Association will try to resolve internal dispute.
Meanwhile, Kenya can no longer play one-day internationals outside ICC events.
- President - Mani remains in office until June 2006.