This Rule is a big change in regard to a lost ball.  It is under the category of Local Rule.  Meaning probably not in effect for Club Championships.  It would also not be an option for major Provincial and National Championships.  It is intended to speed up play in the event you didn't play a provisional ball.

The Local Rule is appropriate for general play where golfers are playing casual rounds.

Watch the video.  Click here:  Stroke and Distance