What happens now?
Today, 2pm: Conservative Party board meeting to approve the process.
Tomorrow, 6pm: Nominations open. Nominees need a proposer and a seconder to stand.
Noon, Thurs June 30: Nominations close.
Tuesday July 5: First round of voting; the candidate with lowest number of votes is knocked out. Voting then continues on the following Thursdays and Tuesdays. After each round of voting the candidate with the least votes is knocked out.
July 21: Latest possible date for two candidates to emerge.
Late July/ early August: Hustings, when the two candidates will be grilled by Conservative party members around the country.
Aug: Postal ballots are sent out, likely to be by the Electoral Reform Society, to 150,000 party members.
September 2: Latest possible date for result announcement.
Theresa May leaves Downing Street yesterday; she is said to have a strong chance of winning, as the ‘stop Boris candidate’