Defiant members of the Union Bears unveiled a 'Free Souness' banner after the controversy surrounding their Rangers vs Celtic tifo.
Rangers chiefs had branded the display during the derby match at Ibrox as "unacceptable", stating it "crossed a line".
The display featured an image of Souness holding a shotgun with text lower down the stand reading: 'Take aim at the rebel scum'.
The Sounness imagery was based on a real photograph of the former Rangers player and manager when he posed with the weapon as part of a media event before the World Cup in 1982.
"Our approach to supporter displays has always been built on trust, with the responsibility placed on groups to exercise good judgment.
"We will reflect on how these displays are managed and engage with supporter groups to ensure the right balance of trust, responsibility and oversight is maintained moving forward.
"Rangers is proud of its passionate fanbase, and we all share a duty to protect the standards and reputation of our club."
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In response to the fallout, which the group previously branded as a "national meltdown", the Union Bears chanted "There's only one Graeme Souness" during the match against Aberdeen.
A small banner, with black text on a white background, read: "Free Souness".
Club chiefs detailed their reasoning for the club statement after the banner before Rangers vs Celtic last weekend and refuted claims it was a "knee-jerk" response.
Officials stated they were not aware of the contents of the banner, which is now in the hands of Police Scotland.
"The strength of feeling among the fanbase on the issue is very strong in terms of the club's handling of the situation and this was echoed by the FAB and firmly conveyed," the opening section of the Fan Advisory Board meeting minutes read.
"The club's statement was perceived as being issued too quickly and in a reactionary manner.
"There is a recurring frustration that while the club acts quickly to condemn its own fans, it does not consistently defend our own supporters when they are the target of provocative or offensive actions by others."
