Formula One officials announced on Monday that drivers who set the fastest lap during every event would receive a bonus point towards the overall F1 championship.

F1 bosses and the FIA have been in discussions about introducing new initiatives, and awarding a point for the fastest lap is one that received backing from all involved. The Strategy Group gave it the green light, as did the Sporting Working Group.

The new initiative was also approved by the F1 Commission and received ratification by the World Motor Sport Council. This means the new rule will be enforced beginning with Sunday’s Australian Grand Prix.

There is a condition for earning the bonus point. Only drivers who finished in the top-10 are eligible for the extra point. Drivers who fail to finish or finish outside the top-10 can not earn the bonus point.

With 21 races on the Formula One schedule, there is potential for an additional 21 points to be awarded throughout the year.

For more information, visit the F1 website.