The Scottish Premier League clubs have voted to take on responsibility for the admission of 'newco' applications to the division from the six-man SPL board, chief executive Neil Doncaster has announced, meaning that the future of Rangers could rest with the other 11 teams in the league.
Plans to hit 'newco' clubs - where a new company buys out the existing club's assets, a position Rangers may find themselves in should new owner Charles Green fail to secure a deal with their creditors - with fixed penalties were rejected by the 12 members, leaving the SPL the flexibility to accept or reject newco applications and impose sanctions on a case-by-case basis.
The members did approve a potential increase in sporting sanctions for entering administration, which would see clubs hit with a deduction of a third of their previous season's points tally if that is greater than the current 10-point penalty.
They also passed resolutions requiring clubs to pay their players and taxes on time, with sanctions for those who fall behind in their payments.
Doncaster praised the SPL clubs for agreeing to tougher sanctions that enforce the notion that clubs must live within their means.
"Clearly the upshot of these new rules is to impose far more onerous sanctions on clubs which go into administration in future," Doncaster said.
"By making any failure to pay players on time a disciplinary matter, the SPL has today sent a very clear signal to everyone of the vital importance of clubs living within their means. If clubs fail to live within their means, they will be punished proportionately.
"If clubs do not keep up to date with their PAYE or NIC, they will be made subject to a player registration embargo until they are up to date.
"I think today is a progressive and bold package of changes, on which SPL clubs should be congratulated."
Meanwhile, former SFA president John McBeth has said that Rangers "got away lightly" with recent sanctions for bringing the game into disrepute.
Rangers saw a 12-month transfer ban, imposed by the SFA, overturned in court on Tuesday, but McBeth believes their successful appeal against the sanction could see them hit with an even stricter punishment.
''The SFA should go away and look at their books to determine what their next step should be," McBeth told BBC Sport. "They could throw them out of the league.
''Football would survive without Rangers, maybe not at the same level, and the game would may be lose some fans - but so be it.
"If you look after the sport the money will follow you, if you look after the money you'll kill the sport.''