Financial rules were thrown in the bin years ago, with the likes of Dundee, Motherwell, Dunfermline & Livingston played fast & loose with administration laws, multiple times.
Ultimately Scottish football dispensed with all respectability, when letting Sevco assume the League & FA membership of Rangers, to save their cash cow.
Only Celtic & Falkirk have paid every penny in the £, to pay off debt, with FFC losing Brockville to finance it. Gretna & Airdrie the only two to fall into oblivion, surprisingly using the same memberships, which now reside with Annan.