Scottish Premier League clubs who go into administration after this season will suffer a 10-point deduction and be banned from signing new players.
But Motherwell and Dundee, who are both already in administration, will not start next season at a disadvantage as the SPL board decided against retrospective punishments.
From May 31st a club which goes into administration will be docked 10 points and prevented from signing players unless there are exceptional circumstances.
SPL chairman Lex Gold said: "There are no simple or easy options. Punishment should be through sporting sanctions and the 10-point deduction is linked to the embargo on buying players."
It was also decided to increase the number of substitutes allowed on the bench from five to seven while the under-21 league is to be modified next season into a reserve competition with no age restrictions.
PA