The Academy of Motion Picture Arts and Sciences has announced that Will Smith will not be allowed to attend the Academy Awards for the next 10 years after he slapped comedian Chris Rock on stage during this year's Academy Awards.

"The Board of Directors has decided not to allow Mr. Smith, for a period of 10 years, effective April 8, 2022, to attend any academic events or programs, in person or virtually, including but not limited to Academy Awards," an Academy statement read.

The decision was made during a meeting of the Board of Governors held earlier today in Los Angeles.

The meeting, which was tentatively scheduled for April 18, was rushed after Smith announced his resignation from the academy last week.

Commenting on the announcement, Smith issued a quick and brief statement about being barred from attending the Academy Awards for the next decade. "I accept and respect the Academy's decision," he said, in a statement to CNN.

"The 94th Academy Awards were intended to be a celebration of the many individuals in our community who did an outstanding job last year; however, those moments were overshadowed by the unacceptable and harmful behavior we saw from Mr. Smith on stage," the Academy letter added.

The academy also apologized for the failure to prevent the slap incident, and according to the statement: "During the television broadcast, we did not follow the situation sufficiently."

"For this we are sorry. This was an opportunity for us to set an example for our guests, viewers and the Academy family around the world, and we failed, we were unprepared for an unprecedented event."

Smith's resignation means that he is no longer part of the Academy's voting body, but it does not prevent the Academy Award winner from running for a future nomination.

Usually, last year's Best Actor winner presents the current year's Best Actress award, and the Best Actress presents the Best Actor award.

And with Smith's ban, the Oscars will have to break that tradition.