Sir Graham Brady has laid out the plan to appoint a new Prime Minister following the resignation of Liz Truss.
Candidates to replace Liz Truss as Tory leader will need at least 100 nominations from Conservative MPs, the 1922 Committee chair said.
After talks with the board of the Conservative Party and the executive of the 1922 Committee of Tory backbenchers that he chairs, the MP told reporters nominations will begin now and close at 2pm on Monday.
“Candidates will be expected to have at least 100 colleagues nominating them…” he said.
Conservative Party chairman Jake Berry said there would be an online vote for members if two candidates made it through the parliamentary stages.
Mr Berry said the board of the Conservative Party met at 4pm and, in conjunction with the 1922 Committee, had decided on the process.
“We have decided that if the party should decide to put forward two candidates there would be an expedited, binding, online vote of Conservative Party members to choose its next leader,” Mr Berry said.
It comes after Ms Truss resigned as Prime Minister earlier on Thursday amid mounting pressure.
Ms Truss said she has told King Charles III she is resigning.
In a statement outside No 10 she said: “I recognise… given the situation I cannot deliver the mandate on which I was elected by the Conservative Party.”
She added that she will stay on as Prime Minister until a successor is chosen via a leadership election to be held within the next week.
Sir Graham Brady
PA
Liz Truss resigned as Prime Minister on Thursday
Kirsty O'Connor