The Blues were issued a please explain by the league after McKay remained on the field against North Melbourne on Sunday despite him appearing dazed.
The powerful left-footer kicked a goal before he left the field to have a head injury assessment and was eventually cleared of concussion.
McKay will be named for Carlton's clash with Port Adelaide at Marvel Stadium on Friday night.
Blues coach Michael Voss said the club had put forward their case but were still waiting to be officially cleared by the AFL.
Adelaide (Jordan Dawson) and Brisbane (Harris Andrews) were also issued a please explain from the league for their handling of players with head knocks last weekend.
"We've certainly been asked to put a series of events together in the way that we saw it," Voss said on Thursday.
"We've been able to do that and (the AFL is) comfortable with where that lies, so we move on.
"We're comfortable we followed the protocols that we needed to."
It comes as club doctors push for on-field HIAs to be banned and want league medical staff to instead rule on concussions during a game.
The AFL Players' Association has also called for players to be removed from the field to assess significant head injuries.
"Our main priority is the health of the player, in any circumstance, that's the priority over everything," Voss said.
"(McKay's) been good (this week). It doesn't mean the process shouldn't be run, but he was pretty good fairly early on.
"We always wait 24 hours to be able to find out where that lies and he's passed all the testings."
Essendon coach Brad Scott on Wednesday continued his push for the AFL to abolish the sub, arguing it would alleviate pressure on doctors making concussion assessments.
Scott, a former AFL football operations boss, is adamant the league ditch the sub rule and move to five players sitting on the bench instead.
In Friday night's heartbreaking defeat to Adelaide, Essendon subbed important midfielder Jye Caldwell out in the final quarter while he underwent a HIA.
Caldwell subsequently passed the concussion test and could have returned to the field late in the three-point loss had he been available.
Western Bulldogs coach Luke Beveridge and Sydney counterpart John Longmire have also urged the AFL to ban on-field concussion tests.
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