The 1922 committee chair has confirmed the date that the next Conservative leader will be announced.
Sir Graham Brady has said the result of the contest for the next leader of the Conservative Party and Prime Minister will be announced on September 5.
The news comes as the race to replace Boris Johnson, who himself resigned last Thursday following a mass resignation of his party's ministers and MPs, heats up.
Who will replace Boris Johnson as Prime Minister?
Foreign Secretary Liz Truss is one of the most recent to officially join the field of 11 candidates vying for the top role but under the Tory backbenchers' timetable, this number could be slashed very soon.
The senior Cabinet minister is running alongside former health secretaries Sajid Javid and Jeremy Hunt, ex-chancellor Rishi Sunak, his successor Nadhim Zahawi, Transport Secretary Grant Shapps and trade minister Penny Mordaunt.
Former minister Kemi Badenoch and senior backbencher Tom Tugendhat have also thrown their hats into the ring.
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Elections for the new executive of the 1922 Committee, the powerful backbench panel, took place on Monday afternoon.
The new committee met immediately to set out the rules and procedures for this race to replace Boris Johnson with Sir Graham meeting the Conservative Party board to set the timetable.
The candidates could be whittled down to a final two before the start of MPs’ summer holidays next Thursday.
What is the timetable to pick the next Conservative Party leader?
Sir Graham Brady has said that the nominations will open and close on Tuesday.
MPs will conduct the first round of voting on Wednesday with the names of the proposer and seconder being made public.
Candidates must win at least 30 votes from party colleagues to progress.
The second round of voting will then take place on Thursday.
Sir Graham has also confirmed that there will be successive ballots until the final two candidates are reached.
Viewers will also be able to tune into a Tory leadership debate at 7pm on Sunday, July 17.
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