Cricket South Africa's interim board and decision-making members' council say they have reached an agreement and "a crisis has been averted".
It comes after the government evoked a law to defund the federation and remove recognition for all the country's national teams.
That would have meant that South Africa would not have been able to compete in international cricket while its national federation was stripped of its status.
The agreement between the interim board and members' council was announced late Sunday night and two days after the minister of sport said he was exercising his powers to no longer recognise Cricket South Africa as the body in charge of the sport in South Africa.
It relates to the failure of the members' council - which is made up of the presidents of South Africa's 14 cricket provinces - to agree to governance reforms at a special general meeting last weekend.
Part of the reform package for the troubled national body includes installing an independent chairman and a majority of independent members on CSA's board.
The reforms, supported by the interim board and the government, were rejected by the provincial presidents, leading to minister of sport Nathi Mthethwa stepping in.
"The members' council and the board are very pleased to announce that a crisis has been averted and agreement has been reached on all those outstanding issues," Cricket South Africa said.
Mthethwa's decision on Friday to intervene in the dispute and remove recognition of Cricket South Africa has not yet been officially published as law by the government, effectively giving CSA a last-ditch opportunity to resolve its problems.
The sports ministry hadn't yet reacted to the development but CSA hoped it would lead to it being fully recognised again.
CSA has been in disarray since former CEO Thabang Moroe was suspended in 2019 and fired the following year amid an independent investigation that found misconduct by him and other senior officials. The former board was also disbanded after failing in its oversight role.
In a joint statement, top South African players have criticised CSA administrators, who they said had "undermined and betrayed" the sport.
Australian Associated Press
