Britain To Name New PM On September 5 As Tory Leadership Announces Election Rules 

The 1922 Committee of Conservative backbench MPs also outlined the schedule and election rules that will invite candidates and close the nominations on Tuesday

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The new leadership to take over as the British Prime Minister will be announced on September 5, said the body responsible for the Tory leadership elections on Monday. Boris Johnson resigned last week after surviving a nearly three-year premiership that has been plagued by controversies and scandals. The 1922 Committee of Conservative backbench MPs also outlined the schedule and election rules that will invite candidates and close the nominations on Tuesday, reported news agency PTI.

As of now, 11 candidates have filed their nominations including British Indian former minister Rishi Sunak and Foreign Secretary Liz Truss as the frontrunners.

“We are very keen that we get this concluded as smoothly, cleanly and rapidly as possible,” said Sir Graham Brady, chair of the 1922 Committee, according to the report.

"Certainly, we should have a conclusion and a new leader of the party elected and announced on September 5 The crucial thing is we've arrived at the point we're at and we now have a very clear plan to take things forward and resolve the leadership question," he said.

Going by the new rules laid out by the committee during a crucial meeting, Tory members of Parliament who are contesting for the leadership must have the backing of at least 20 other Tory MPs to get on to the ballot.

Such candidates also need to have at least 30 votes to proceed to the next round, or just under 10 per cent of Tory MPs. The first ballot will take place on Wednesday and the second ballot on Thursday, when the field is expected to be narrowed down further.

In fact, it has kept provision for more ballots next week if the race to get to the final two candidates does not close by this week. The first ballot will be held on Wednesday and the second ballot on Thursday, when the field is expected to be narrowed down further.

Many of the Conservative Party's 358 MPs haven’t yet declared their support with the shortlist likely to become clearer only as the week progresses.

Once the race is narrowed down to the final two candidates, they will Tour the country for hustings to campaign the nearly 200,000 Tory party members who will then vote for the winner which will be based on a one member, one vote system. The candidate who receives the maximum votes will be decalred the winner and named the new Tory leader and UK Prime Minister.

(With PTI inputs)