That could involve Green promising that a newco club will settle all outstanding football debts to SPL clubs, or committing to accept any future punishments if found guilty by the SPL's probe into alleged undisclosed payments via Employee Benefit Trusts.
Other clubs could also insist that a newco is not admitted without agreeing to a change to the existing requirement for an 11-1 majority on votes on SPL commercial matters, which for years has given the Old Firm the power of veto.
That issue is due to be discussed at the SPL annual meeting on July 16.
Each SPL club has one share in the league and the newco Rangers will have to apply for the transfer of the share held by the soon-to-be liquidated current club.
The SPL share and SFA membership are among the "assets" now being bought by Green's consortium.
Once that application is received the SPL will convene a meeting of all 12 clubs to decide on whether or not to accept the newco. But there is a 14-day notice period before that meeting can be held.
That means if the SPL took possession of it on Friday – the day after tomorrow's creditors' meeting at Ibrox – the earliest the newco vote could be held would be on June 29.
Rangers will continue to have a share, and voting rights, in the SPL until their existing share is passed on. That means that all 12 clubs will vote on the matter when the time comes. A majority of 8-4 is required for the application to go through, meaning that five SPL clubs would have to vote against it for Rangers to be playing in the Irn-Bru Third Division next season.
Scottish Football League chief executive David Longmuir said the matter was only for the SPL and SFA for the time being, but that if a vacancy was created (by a SFL club moving up to replace Rangers in the SPL) then the Ibrox club could apply to join the Third Division and would then be assessed accordingly.
All SFL member clubs would then vote on whether to allow Rangers in.
The SPL will publish next season's fixtures on Monday and Rangers will be included as usual. Their liquidation came too late for the fixture scheduling process to be interrupted but, if the newco application is rejected by the other clubs, the SPL will meet to consider an alternative.
There will be no reprieve for Dunfermline Athletic as their SPL share was transferred to Ross County at the point of relegation.
There is the possibility of First Division runners-up Dundee making an application for a vacant share and there is also the unlikely but possible scenario of the league going ahead with only 11 members for 2012-13.
That would mean a rota in which one club did not play a fixture every weekend. The SPL declined to comment yesterday.
A newco Rangers will also have to apply for membership of the SFA after being given a place by the SPL or SFL.