Portsmouth were relegated from the Championship at the end of last season after going into administration and being docked 10 points.
Administrators are trying to complete a sale of the south coast club, who were in the Premier League as recently as 2010 and have total debts of almost 60 million pounds ($92.4 million).
The new owners will also have to face a series of restrictions on playing budgets and borrowing for the next five seasons as a condition for gaining a place in the league.
Former owner Balram Chainrai and fans' group the Pompey Supporters Trust are both potential purchasers of the club.
Administrator Trevor Birch criticised the decision to impose a fresh penalty while he is trying to finalise a deal.
"I think most people would agree that the 10-point deduction imposed last season was sufficient, particularly as it played a huge part in the club's relegation to League One," he said.
The Scottish Football League will on Friday decide what to do about former champions Rangers who have been excluded from the Scottish Premier League after going into administration.
Under new owners, Rangers could have to start life in the fourth tier of the Scottish game.