The 10-point deduction for Football League clubs entering administration was introduced in 2004, with Wrexham the first League team to suffer a deduction in the 2004/05 season.
In 2007, the rule was amended so that clubs going into administration after the fourth Thursday in March would have the 10-point deduction suspended, but only if they are in the relegation zone.
If they are outside the relegation zone, then the points are taken off straight away, even if it means they then drop into the relegation zone.
Stockport have been fighting to stave off administration but their level of debt, with one creditor owed £300,000, has made it unavoidable.
"We went so far, this morning, as to offer our creditors a large part of the payment directly into their account in earnest of our intent going forward but obviously that didn't get taken up," said Connelly.
"To have the rug pulled from under us like this is simply soul destroying. I know the staff here are just destroyed by it."
John Titley and Paul Reeves of Manchester-based accountancy firm Leonard Curtis confirmed that they had been appointed as joint administrators.
"We are keen to work with the board to explore all possible solutions to ensure the club's future prospects are protected," said Titley.
"We are extremely hopeful we will find a buyer for the club and are already aware of expressions of interest."
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