Rishi Sunak has formally stepped down as leader of the Conservative Party sparking the start of the process to elect a new leader.
He will remain acting leader of the party until a successor is appointed on Saturday, November 2.
The former Prime Minister said: “It’s in the national interest for us to have a smooth and orderly transition to a new Leader of the Opposition so I will stay in post until November 2nd, and the result of our leadership election.
“This will allow our party to fulfil its role as the official opposition professionally and effectively.
“I believe this is what is best for the Conservative Party and, most importantly, our country.”
He added: “It would be inappropriate for me to make any comment about the leadership campaign or candidates.
“I am confident that this timetable decided by the Party Board and the 1922 Committee will allow for a thoughtful, professional and respectful contest.”
Candidates will need a proposer, a seconder and eight nominations to proceed to the ballot.
Nominations open Wednesday 24th July at 7pm and will close at 2.30pm on Monday 29th July 2024.
The parliamentary party will narrow down to four candidates, who will make their case to Conservative Party members at the Conservative Party Conference in Birmingham in the autumn.
The parliamentary party will then whittle it down to the final two candidates, who will then be subject to a vote by Conservative Party members.
The ballot of Party members will be conducted via secure online voting.
The ballot will close at 5pm on Thursday 31st October.
The result will be announced on Saturday 2nd November.
Only members, who have been a member for 90 days or more prior to the ballot closing, and have been an active member at the time of the nominations for candidates opening, will be eligible to vote. The rules were announced following meetings of the 1922 Executive Committee and the Conservative Party Board.
Harrow East MP Bob Blackman, Chairman of the 1922 Committee of Backbench Tory MPs, said: “Following discussions between the PartyBoard and the 1922 executive, the timetable for the election of a new leader of the Conservative Party has been agreed.
“Over August, candidates will be able to engage with the voluntary party before in September, the parliamentary party selects 4 candidates to go to conference.
“The parliamentary party will then pick the 2 candidates who go forward to the members ballot with the new leader elected on the 2nd of November.
“I am determined that our party will have a respectful and thorough leadership debate. I believe that this timetable will allow for this.”
He also stressed: “While there are significant debates to be had about our party’s future, we must remember that the country, and our members, want to see us engaged in proper debate not personal attacks.
“I am confident that this process will allow for this. I am delighted that Rishi Sunak will remain in post until the 2nd of November and the election of a new leader.
“This will allow for a smooth and orderly process.”
Richard Fuller MP, Chairman of the Conservative Party, said: “This process has party members at its heart.
“I very much welcome Rishi Sunak’s decision to remain as leader until the election of a new leader thereby enabling this full engagement of candidates with members.
“Party conference will be a great opportunity for our hard working volunteers to meet the leading candidates and make their views known to MPs before the final two candidates are put to a final vote by Party members.
“Party members will be the voice of this leadership campaign.”
