The decision will allow Rangers boss Ally McCoist to bolster his squad, who will be playing in the Irn-Bru Third Division, next season. Charles Green's newco club were voted into the bottom tier by Scottish Football League clubs, after failing in their bid to get into the Scottish Premier League.
The registration embargo and a £160,000 fine were handed down to Rangers for a range of offences, mainly the club's failure to pay tax under former owner Craig Whyte, who was banned for life by the SFA after he was ruled unfit to hold an official role in the game.
Rangers successfully challenged the transfer ban in the Court of Session before Green's Sevco bought their assets when they were consigned to liquidation. Lord Glennie ruled the sanction was not open to the SFA, who referred the matter back to the appellate tribunal that upheld the original sentence.
However, a statement from the SFA read: "The Scottish FA can tonight clarify the position surrounding the outstanding Appellate Tribunal related to Rangers FC Oldco. It has been agreed with Sevco Scotland Ltd that the registration embargo will be accepted as a primary condition of a transfer of membership.
"It is necessary to complete the judicial process following the determination by Lord Glennie in the Court of Session that required the Independent Appellate Body to revisit available sanctions relating to Oldco, having been found guilty of bringing the game into disrepute.
"Rather than convening the Appellate Tribunal to determine from the sanctions available to it, the company directors of Sevco Scotland Ltd have chosen to accept the 12-month registration embargo. This embargo will begin on 1st September 2012 and end on 31st August 2013.
"Sevco Scotland Ltd have also undertaken to accept all other outstanding conditions relating to Oldco's charges of bringing the game into disrepute. The conditional offer of transfer will now be submitted to the Appellate Tribunal for its consideration.
"This will form part of the approval process for the transfer of membership which, once approved, will enable Rangers FC to take a considerable step towards participating in Irn Bru Division Three.
"The imposition of conditions relating to transfer of membership was made on the basis that the Scottish FA, as the governing body, has an obligation to protect the integrity of the national game and to ensure that all member clubs operate within the Articles of Association."