Dunfermline Athletic have been docked 15 points for entering interim administration.
A Scottish Football Association board meeting at Hampden Park on Tuesday made official the decision that Dunfermline would lose 15 points from their 2012/13 season total as well as being hit with a transfer embargo.
The Pars will now drop to second bottom on the First Division table, three points behind Cowdenbeath, who they are likely to meet in a relegation playoff with bottom-placed Airdrie United destined for the Second Division.
The Fife club will also be subject to a 10-point deduction and a £150,000 fine if they do not secure a Company Voluntary Agreement ahead of the 2013/14 campaign.
"The Scottish Football League regrets the current situation that Dunfermline Athletic FC finds itself in," read a statement.
"We are fully aware of the impact this situation has had on all concerned, especially players, staff and fans of the club.
"The SFL has a duty to protect the integrity and on-going smooth-running of the league and therefore following a thorough process, the SFL board has decided that Dunfermline Athletic Football Club Limited is guilty of conduct contrary to league rules, the interests of the league and its member clubs."