(CNN) -- The English Premier League will become the first domestic championship in the world to use goal-line technology (GLT), it was confirmed on Thursday.
At a meeting of the Premier League's 20 chairmen in London, the historic decision to use goal-line technology for the start of the 2013-2014 season was approved.
It means the system provided by British-based firm Hawk-Eye, chosen ahead of German company GoalControl, will be in place for the curtain-raising Community Shield on 10-11 August.
"Football is fundamentally a simple game; whichever side scores most goals wins," said Chief Executive Richard Scudamore on the Premier League's official website.
"So, when one is scored, or indeed not scored, and we have the ability through technology to definitively know whether the ball crossed the line we should absolutely use it.
"Fans, players and managers exhort, strain and stress respectively for their teams to score or prevent goals being scored, so we as administrators should do all that we can to ensure the correct decisions are being made."
Scuadmore said that the fact that Hawk-Eye used cameras was a 'critical' factor in selecting the technology, since it can be replayed by broadcasters -- with the Premier League also exploring whether replays can be played on big screens inside stadiums.
"It is essential that fans see the system in action to know that it is working," he added.
Hawk-Eye's system uses seven cameras to track the movement of the ball and sends a signal -- within a second -- to watches worn by match officials when a goal is scored.
FIFA had long opposed the use of the technology until a valid England goal was disallowed at the 2010 World Cup, prompting president Sepp Blatter to alter his stance on the issue.
Fabio Capello was at the helm on that occasion but current England manager Roy Hodgson believes the introduction of GLT represents a watershed moment in the history of football.
"It's probably one of those moments that will go down with the changes to the offside rule and the back-pass rule, which most of us at the time were very skeptical about, but which we've now taken to our hearts because we appreciate it," he said.
First trialled by FIFA at last year's Club World Cup in Japan, GLT will be used at June's Confederations Cup and next year's World Cup in Brazil, with Germany company GoalControl set to provide the technology on both occasions.
Overlooked by FIFA for those tournaments, Hawk-Eye -- which already provides ball-tracking systems for tennis and cricket -- will install its technology in 20 Premier League grounds and at Wembley, which will host August's Community Shield.
England is the first of Europe's major leagues to announce plans to introduce GLT with Germany's Bundesliga saying last month it had no plans to use the technology until 2015 at the earliest.
While the head of Italy's Serie A said this week that he saw no need to use GLT, a leading Spanish official said he hopes to adopt the system within three years.
"We are not going to be as quick as the Premier League but we are in favor of the system," said Francisco Roca Perez.
"I expect that in two or three years we will be able to do something like this, either with technology that we buy or that we create ourselves."
In a separate development, the Premier League has ratified controls that oblige clubs to restrict losses to a limit of $162 million over a three-year period.
The move has been made to put a break on clubs' spending, with many suffering economic concerns in recent times.
According to the most recently-published accounts, defending champions Manchester City, Chelsea, Liverpool and Aston Villa have all reported losses in excess of $162m over the last three years.
The Premier League says clubs that break the rules could face a points deduction.