Rangers have won their court battle against a Scottish Football Association transfer embargo after a judge ruled the disciplinary panel members acted outside of their powers.
Lord Glennie proposed that the case go back to the SFA appeal tribunal that upheld the initial decision by a judicial panel to impose a 12-month ban on registering players aged 18 and over.
Following a three-hour hearing at the Court of Session in Edinburgh, the judge accepted the club's petition for a judicial review as he ruled that the SFA could only administer the specific punishments stated in the rule relating to the disrepute charge.
Rangers were already under a Scottish Premier League transfer embargo which will stand while they are in administration, but the publication of a Company Voluntary Arrangement proposal on Tuesday means that could end as early as July 12.
However, Rangers could face even stronger punishment from any reconvened SFA appeal panel as the only stated punishments above the maximum £100,000 fine already administered are suspension or expulsion from participation in the game, ejection from the Scottish Cup or termination of membership.
The disrepute charge was handed down mainly over the club's failure to pay more than £13million in taxes last season and SFA legal representative Aidan O'Neill QC had argued that the punishment had to be "effective, dissuasive and proportionate".