Motor racing chiefs adopted a zero tolerance approach to safeguard the future of Formula One today after introducing a raft of radical changes.
World governing body the FIA has moved to drastically reduce costs and improve the show to halt declining viewing figures at a meeting of team chiefs.
FIA president Max Mosley is determined no other teams will follow Prost and Arrows - placed into liquidation yesterday - who have both gone bust in the last 12 months.
The series of far-reaching proposals could save each team up to Stg£6 million a year, one team source estimated.
"Once they got over the shock it all went down quite well," said Mosley, who with F1 chief Bernie Ecclestone met the 10 remaining team chiefs at Heathrow Airport.
"Our position is that we are a little bit like (former New York) Mayor Rudolph Giuliani.
"We have gone over to zero tolerance. We could have probably been more insistent so now we decided we would impose them to the letter."
Electronic driver aids like traction and launch control and fully-automatic gearboxes will be abolished by the 2004 season at least, but moves will be made to eliminate them this season if technically possible.
Human error will also again become a greater factor in determining the outcome of races.
Computer telemetry between a car and the pits will be eliminated for the coming season, which means if Michael Schumacher's Ferrari develops a fault during a race, his engineers will not be able to fix it via a computer or alter various settings.
Schumacher, or any other driver for that matter, will be unable to switch to the spare car if his race car develops a fault on the starting grid as teams will only be allowed two cars in 2003.
And the prospect of special qualifying engines has been eliminated as cars will be placed in parc ferme after qualifying and teams will only be allowed to work on them under strict supervision.
FIA has said it will "rigorously apply existing rules" when the season gets under way in Australia in March and as this applies to the sporting regulations, the unanimous agreement of the teams was not needed.
The governing body also intends to introduce standard parts from 2004 and ensure engines will last six races by 2006, both of which will massively reduce costs and level the playing field.
All radio communication between teams and drivers will also be eliminated.
It is understood a restructuring of television money was also agreed which will be a boost to smaller, independent teams like Jordan and Minardi.
"It's a huge day as far as we are concerned," said Eddie Jordan, who has been desperately searching for sponsors in recent months. "It secures the future viability of Jordan for 2003 and beyond.
"Everyone was in agreement, there was a great union, everyone was committed to making sure it was very clear that 10 teams remained in place and that everyone would rally round to help each other.
"The atmosphere was the best I've ever known in a team principals' meeting.
"Things have been changed. Max has been quite brutal about what he wants to see for 2003, 2004 and 2005 in terms of engines.
"There is supposedly doom and gloom but today was the most positive I can possibly ever remember in my lifetime in Formula One.
"Fans don't want to see drivers fiddling with gadgets or pressing buttons. They want to see racing and that's what we are getting back to."