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"The resolutions proposing fixed penalties on a newco were therefore withdrawn as obsolete."