Rangers have won their appeal against the Scottish Football Association's decision to impose a year-long transfer ban on them, the troubled club said on their website on Tuesday.
The ban was handed out after Rangers, who went into adminstration in February over unpaid taxes, were charged with bringing the game into disrepute.
Rangers challenged the ban at the Court of Session in Edinburgh on the grounds that it was not one of the sanctions in the SFA's regulations and Lord Glennie ruled that the decision should be reconsidered by the ruling body's appeal panel.
"I regret that I cannot accept that view," Lord Glennie said. "There is no mention of suspensions, expulsions or ejection from the Cup."
Rangers are still banned from signing players because they are in adminstration but a takeover bid from former Sheffield United chief executive Charles Green was accepted two weeks ago.