Tory leadership election timetable

Although the selection of Iain Duncan Smith as Tory leader took three months, the rules mean that a much speedier process could take place now he has been ousted.

Leadership election rules:

The timescale for a leadership election has already been decided by Sir Michael Spicer.

The rules say that the deadline for nominations must be at noon on a Thursday - in this case it will be 6 November.

If there is one candidate, they become leader.

If there are two candidates their names go forward to a vote of Tory party members across the country.

If there are more than two candidates Tory MPs will vote on the first Tuesday after nominations close - 11 November. The candidate with the least vote drops out.

This process continues with votes on Tuesdays and Thursdays until there are two candidates left, whose names then go forward to the membership vote.

Under the current rules the final run-off between the top two candidates will take place on a date determined by the returning officer, which will come "as soon as practicable after the date of the last ballot of the parliamentary party".