Stenhousemuir do not expect Scottish Football League clubs to be given the option of voting newco Rangers into the Irn-Bru Third Division.
SFL chief executive David Longmuir said on Thursday that clubs would be asked whether they accept the Ibrox club in the SFL next Friday, followed by supplementary questions, which he did not elaborate on.
Stenhousemuir backed up Clyde's assertion that SFA chief executive Stewart Regan had effectively left them with two options once the newco's SPL bid failed - vote them into the First Division or there would be an SPL2 breakaway. Stenhousemuir revealed they would vote in favour of the proposal as they would otherwise risk the future of the club.
The Second Division club issued a detailed report of the meeting which claimed the SPL value their annual broadcasting potential at £3million if newco Rangers start life in the Third Division.
They say SPL chief executive Neil Doncaster claimed the top flight would annually lose £17.7million in TV rights and £1million in sponsorship deals if the Ibrox club are out of the division for at least three years. Regan has publicly claimed SPL clubs would lose £15.7million a season.
Community-run Stenhousemuir said Regan set out the SFA's position very clearly.
"As the governing body they considered that the punishment for Rangers Newco needed to be significant," chairman Bill Darroch said in a statement.
"The punishment they are proposing of relegation from the SPL, a one-year transfer embargo, a significant fine and the related UEFA three-year ban from Europe was fair and just.
"This did not include any subsequent punishments which may or may not be raised re the dual contracts enquiry."