Tiger Woods has received a two-shot penalty at the Masters for failing to replace his ball in the correct spot when he had hit the water on the 15th hole of his second round.

Woods will therefore start the third round on one under par.

The world No 1 should have marked a two-shot penalty for placing his ball in the wrong spot, but failed to do so.

Under old regulations, that would have meant disqualification.

However, a recent rule change by the USGA means that Woods only incurs a two-shot penalty for incorrectly marking his card.

Woods was penalised under rule 33-7, which covers a competitor unaware of a penalty returning a wrong score.

A statement from the the tournament headquarters read:

"Yesterday afternoon, the Rules Committee was made aware of a possible Rules violation that involved a drop by Tiger Woods on the 15th hole.

"In preparation for his fifth shot, the player dropped his ball in close proximity to where he had played his third shot in apparently conformance with Rule 26.

"After being prompted by a television viewer, the Rules Committee reviewed a video of the shot while he was playing the 18th hole. At that moment and based on that evidence, the Committee determined he had complied with the Rules.

"After he signed his scorecard, and in a television interview subsequent to the round, the player stated that he played further from the point than where he had played his third shot. Such action would constitute playing from the wrong place.

"The subsequent information provided by the player's interview after he had completed play warranted further review and discussion with him this morning.

"After meeting with the player, it was determined that he had violated Rule 26, and he was assessed a two-stroke penalty.

"The penalty of disqualification was waived by he Committee under Rule 33 as the Committee had previously reviewed the information and made its initial determination prior to the finish of the player's round."