Scholes is part-owner of City and because of rule 103.1.3 in the Football League handbook it looked like appointing the former England International to the job would breach their regulations about duel interest and ownership.
Scholes has a 10 per cent stake at Salford City, who now play in the National League, but are fighting for for promotion to League Two.
The publication reveals that Scholes had approached the club to succeed Frankie Bunn as manager, but the laws guiding the league made it complicating for the ex-United star.
Although this appears to have delayed Scholes' arrival at Boundary Park, it now seems the matter has been resolved, freeing the 44-year-old to take charge of the club he supported as a boy.
Ryan Giggs, who is now Wales boss, was the first when he was appointed caretaker manager at United following the sacking of David Moyes in 2014, before Gary Neville's first and only role came during a four-month stint at Valencia in 2015-16.
He has most recently been working as a television pundit for BT Sport.
Oldham are looking to break a three-game losing streak, and now sit in 15th in the League Two table.