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Rangers face another day awaiting news that could have a major bearing on their future as Scottish Premier League clubs meet again to discuss financial fair play proposals.

SPL clubs have twice adjourned a vote on potential sanctions for newcos as they wait for some semblance of clarity on Rangers' situation.

The previous meeting was May 7, when Rangers' administrators requested more time.

That was just over three weeks ago but since then Bill Miller pulled out and Charles Green signed an exclusive purchase deal before putting an offer to creditors on Tuesday.

A vote is due on amended rules that would see clubs in administration lose at least 10 points - cut from the original proposal of 15 - or a third of their previous season's tally, whichever is greater.

The proposed rule changes would also see clubs who undergo an "insolvency transfer" docked 10 points for two seasons and lose 75% of their income for three years.

SPL chief executive Neil Doncaster has been arguing there is little difference between a CVA and newco and another adjournment on that topic is highly possible.

The clubs are due to vote on a number of other issues though, including making it an offence not to pay players or the taxman on time.

Clubs are also due to vote on changes to the voting structure with the non-Old Firm clubs needing the support of one of the Glasgow pair to effect a new 75% majority rule for all decisions as opposed to the current 11-1 needed for major reform.

There is also a resolution which would mean the decision on admitting a newco club, which would currently be taken by the SPL board, would be made by the members.

The meeting comes a day after Rangers' administrators published the Company Voluntary Arrangement proposal put forward by Charles Green's consortium.

It emerged the vast bulk of the £8.5million put forward by Green's group is in the form of a loan while administrators Duff and Phelps are due £5.5million before any money is paid to creditors.

Meanwhile, the Scottish Football Association will consider their next move after a Court of Session judge ruled their 12-month transfer embargo on Rangers exceeded powers available to the judicial panel.

Lord Glennie proposed the decision go back to the appeal tribunal that upheld the initial ruling, although there is a 21-day period where either side could appeal the court verdict.

Rangers have left themselves open to stricter punishment as, under the judge's ruling, the only additional sanctions available to the SFA for a disrepute charge after the maximum £100,000 fine are ejection from the Scottish Cup, suspension or expulsion from football and termination of membership.

FIFA have also urged the SFA to take "direct action" after Rangers breached regulations by taking the SFA to court, although it was shown in court that they could not have taken it to the Court of Arbitration for Sport because of an apparent technicality in the SFA rules.

Rangers were found guilty of disrepute over their failure to pay tax under Craig Whyte - the CVA proposal showed they owe the tax authority more than £21million although the final sum could be closer to £100million.