A group of MPs will hold a hearing into the role the English Football League and Football Association play in safeguarding clubs.
Bury’s 125-year membership of the EFL ended last week after a takeover by C&N Sporting Risk collapsed.
MP Damian Collins, chair of the Digital, Culture, Media and Sport Committee, has also backed calls to place Bury in League Two next term.
Collins said Bury’s expulsion “marks a failure of football governance”.
Fellow League One club Bolton were saved from possible liquidation when they were taken over by Football Ventures (Whites) Limited last week.
“The decision by the English Football League to expel Bury is a tragedy for all who follow the team as well as the wider community that it serves,” Collins said.
“The current owners and directors test is clearly not sufficient to protect the long-term interests of clubs and keep bad owners and directors out of the game.
“The Select Committee believes that the issues that have affected Bury reflect a wider and growing problem within the Football League.”
Bury North MP James Frith said earlier this week that he plans to put forward a proposal to the EFL by 20 September in a bid to have the club reinstated to League Two in 2020-21.
Collins, who said the committee will hold hearings “in the autumn” relating to the crisis at Bury, has urged the EFL to consider “any realistic proposal that could support Bury’s status as a football league club, including whether they could play next season in League Two, under new ownership”.
Bury’s expulsion means that three clubs, rather than four, will be relegated from League One this season and just one, instead of two, from League Two.
Timeline: Bury’s EFL demise
- 30 July: EFL suspends club’s first game of the season asks them to prove financial viability
- 9 Aug: Bury are given until 23:59 on 23 August to provide “clarity required” as third game is called off
- 20 Aug: Sixth Shakers game suspended, while owner Steve Dale rejects offer to buy club
- 23 Aug: Bury granted extension until 17:00 on 27 August in light of bid from C&N Sporting Risk
- 27 Aug: EFL expel Bury after C&N Sporting Risk withdraws interest
- 29 Aug: Bury claim EFL will not rescind expulsion, despite the club revealing a further £7m takeover bid
- 30 Aug: Bury write to EFL as club “actively considers” legal action
- 2 Sep: Bury North MP reveals plan to submit a proposal to the EFL by 20 September in a bid to have Bury reinstated to League Two in 2020-21