Scottish Premier League clubs have taken on responsibility for deciding on newco applications but have rejected plans for fixed penalties for such clubs, chief executive Neil Doncaster has announced.
That means the clubs themselves will vote on whether to admit Charles Green's Rangers into the SPL if he fails to secure a deal with creditors and buys the club's assets through a new company.
The decision was formerly in the hands of the six-man SPL board and clubs will also decide what, if any, sanctions a newco club would receive.
After a meeting of all clubs, including Rangers and Green himself, Doncaster said: "It was agreed that in future any decision on the transfer of share to a newco from any club will be considered by all member clubs rather than the SPL board, with flexibility to impose sanctions appropriate to each individual circumstance.
"The resolutions proposing fixed penalties on a newco were therefore withdrawn as obsolete."
Financial fair play proposals had contained a clause suggesting automatic sanctions on newco clubs which would have seen them deducted 10 points for two seasons and lose 75% of their SPL income for three years.
The 12 members did approve a potential increase in sporting sanctions for administration which would see clubs lose a third of their previous season's points tally if that is greater than the current 10-point penalty.
They also passed resolutions requiring clubs to pay players and Her Majesty`s Revenue and Customs on time with sanctions for those who fail to keep up to date.
A vote on the proposals had previously been adjourned twice, and a decision on voting structure is still to be determined.
The 10 non-Glasgow clubs want to introduce a 75% voting system as opposed to the 11-1 majority currently needed for major reform, but the Old Firm can veto that resolution.
Source: PA
