LONDON - Britain’s Liz Truss resigned as Conservative Party Leader on Thursday, with the internal party election to replace her as party leader and the nation’s prime minister to be completed next week.

The chair of the Conservative Party’s 1922 Committee Graham Brady laid out the rules of the contest on Thursday. Below are the highlights:

- Any candidate running to be leader of the Conservative Party should have nominations from a minimum of 100 party lawmakers

- Nominations will open on Thursday night and close at 1300 GMT on Monday (9pm Singapore time)

- If only one candidate secures the nominations of 100 lawmakers, there will be no vote for party members and that candidate automatically becomes party leader and prime minister on Monday

- There will be hustings on Monday

- The first ballot of lawmakers will be held between 1430 and 1630 on Monday

- If there are three candidates, the candidate with the fewest number of votes will be eliminated. The result will be announced at 1700 GMT

- There will be an indicative vote of lawmakers once there are two candidates

- The vote between the final two candidates would then go to around 170,000 Conservative Party members via an online ballot

- If a second vote is needed (indicative), this will be held between 1730 and 1930 on Monday The result will be announced at 2000 GMT.

- The party members’ ballot will close at 1000 GMT on Friday, Oct 28 and the result will be announced the same day. REUTERS