Put forward by a working group of the International Cricket Council's (ICC) Finance and Commercial Affairs committee, the proposal recommends international calendar and revenue share being controlled by the three boards who bring the most income to the game.
In a letter to all full members of the ICC and its president Alan Isaac, CSA president Chris Nenzani said more consultation was needed into the merits of the proposal and felt the ICC has not followed its own setout procedures in this case.
"... these proposals should first be referred to the relevant ICC committees or sub-committees for proper consideration and to make recommendations to the ICC Board," Nenzani wrote.
"Although there is nothing to prevent a review of the ICC funding model or finances, the proposal self-evidently is inextricably tied up with a fundamental restructuring of the ICC, which has far - reaching Constitutional implications.
"The draft proposal is, therefore, fundamentally flawed as regards the process and, therefore, in breach of the ICC Constitution.
"In the circumstances we propose that the draft proposal be withdrawn immediately given that the proper procedures have not been followed.
"In our respectful opinion, a more considered, inclusive/consultative, and properly constitutionally-ordained approach is required."
CSA's response follows that of the Pakistan Cricket Board (PCB), which confirmed on Monday it would oppose any structural overhaul of world cricket's administration.
"Chairman Zaka Ashraf has been told Pakistan should not support any such changes as it would divide the cricket world and effectively give all veto powers to India, Australia and England," a PCB governing board member, declining to be named, told Reuters.
"The draft proposal was discussed in detail at the last governing board meeting in Lahore on Saturday and a lot of apprehension was expressed over the direction world cricket is taking."
The proposal will be put to the ICC Executive Board at its quarterly meeting in Dubai on January 28-29 and would need vote from seven of the 10 member countries to be passed.
(Editing by Amlan Chakraborty)
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