It means live music can be played both indoors and outdoors from that date at licensed and unlicensed hospitality businesses that sell or provide food and/or drink for consumption on the premises.
Restrictions will be placed on the sound level of music performed indoors, with screens placed in front of musicians.
However, there is no restrictions on volume for outside events.
The proposals had been put forward by Communities Minister Deirdre Hargey.
There will also be a removal of the 500 cap on outdoor gatherings starting from Friday, July 2 at 5pm (subject to conditions).
The Minister tweeted after the Executive meeting: “I am glad that my proposals have been agreed.”
From Monday, the number of households allowed to gather in a private garden increases to five from three, but the maximum number of people is still 15.
Overnight residential stays for children and young people can also resume.
The Executive will meet again next Thursday to discuss restrictions imposed on concert venues and theatres.
There has been no live music since the pandemic erupted here in March 2020 when the country went into lockdown.
A Department for Communities (DfC) taskforce had urged Stormont to allow live music to resume.
A letter from the Culture, Arts and Heritage Taskforce was sent to Communities Minister Hargey and appealed for the reopening of entertainment venues.
“Continuing delays” in reopening are putting venues at risk and “imposing huge stresses” on people’s incomes and wellbeing, it said.
The 25-strong taskforce was set up by DfC in May to recommend measures for entertainment venues to reopen and performances to resume.
Live music, plays, performances and exhibitions have been allowed to resume in England, Scotland and Wales – albeit with limited audience numbers due to social distancing measures.
The planned resumption of live music in the North of Ireland on June 21 had been delayed and given an indicative date ofJuly 5.
Arts, music, culture and heritage has been hit hard by the pandemic, with many venues closed to audiences since March 2020.
The letter to Ms Hargey was from the chair of the taskforce, Rotha Johnston, writing on behalf of members of the group.
“Members recognise the seriousness of the risk presented by Covid-19, and, in particular, the concerns around the Delta variant,” wrote Ms Johnston.
“Members also appreciate the vital need to take steps to protect the vulnerable in our society and recognise the need for caution and the difficult judgements that have been necessary in imposing and now relaxing restrictions.”
But she said that members of the taskforce “felt strongly” about the impact of the executive’s decision to “delay the reopening of theatres and the relaxation of rules on live music in licenced and unlicensed premises”.
“Of particular concern is its impact on the return of commercial live music, live theatre and other performing arts, and for the musicians, actors, independent practitioners, technicians and others who make their living through live performance,” the letter stated.
“The reality is that the continuing delays in reopening the sector and allowing people to return to their activities and pursue their livelihoods, is risking the viability of our venues and imposing huge stresses on the incomes, health and wellbeing of many in the sector.”
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