SPL will charge 'newco' Rangers over non-contractual payments
Charles Green's side will be held responsible for the old company's breaches if voted into the league.
The Scottish Premier League has ruled charges against Rangers for paying players outside of their contracts will apply to Charles Green's newco if they are voted into the top flight.
The league conducted an investigation into allegations the club contravened regulations by not declaring payments being made to playing staff between 1998 and 2010.
After an initial lack of co-operation from administrators Duff and Phelps in order to conduct the investigation, the SPL has now ruled there is a case to answer over a possible breach of its rules.
The situation is complicated in that Rangers are soon to cease to be a member of the league, with an application having been made by Green to have the club's share transferred to his new company.
A date of July 4 has been set for a decision on that matter, at which a 8-4 majority is required in a vote of the clubs, including a representative from the old Rangers company, which remains in administration.
If they gain the necessary support, the SPL has confirmed charges will then be brought against the new club over the actions of the old company.
If then found guilty, a disciplinary case will be brought which could see a range of sanctions brought against the club, ranging from a fine to the stripping of titles, or even expulsion from the league.
A statement from the SPL read: "The SPL Board heard a report from its solicitors following the investigation into payments to, or for the benefit of, players allegedly made by Rangers FC outside of contract.
"The delay in concluding the investigation was caused by an initial lack of co-operation from Rangers FC.
"The investigation has now been completed and, in the view of the SPL, there is a prima facie case to answer in respect of its rules.
"Disciplinary charges will be brought when the future status of Rangers FC is clarified and prior to the start of season 2012/13.
"An application for registration of transfer of Rangers’ SPL share has been received. Consideration of the application will depend on receipt by the SPL Board of all required documentation and verification.
"A general meeting of all 12 member clubs has been convened for 10am on Wednesday 4 July 2012 for members to decide whether to approve the transfer."
The full list of sanctions available to the SPL are a warning, a reprimand, a fine, the annulment of an official match, ordering a match is replayed, a points deduction, the award of an official match to an opponent, ordering games to be played behind closed doors, stadium closure, expulsion from the league, the withdrawal of a title or award, ordering compensation to be paid, a signing embargo and/or any other punishment the SPL board sees fit.