On Monday, the body responsible for the Conservative Party leadership election said it would announce the new leader of Britain’s ruling Conservative Party on September 5, who will succeed Boris Johnson as Prime Minister.

In 1922, a Conservative backbench committee set the timetable and contest rules for the election, and nominations officially began and ended on Tuesday. So far, 11 candidates, led by front-runners such as former British Indian minister Rishi Sunak and foreign secretary Liz Truss, have announced their intentions to run.

Sir Graham Brady, chairman of the 1922 Commission, said: “We very much hope that we can do this as smoothly, cleanly and quickly as possible.

The new regulation, voted on at a key committee meeting early Monday, means Tory members of parliament who have put themselves forward to become Conservative Party leaders must have the support of at least 20 Tory MPs to go to the polls.

These candidates need at least 30 votes or less than 10% of Tory MPs to advance to the next round. The first ballot will be held on Wednesday, and the second ballot on Thursday when the field is expected to shrink further.

If the race to become the final two candidates does not end this weekend, more ballots will be available next week. The first ballot will be held on Wednesday, and the second ballot on Thursday when the field is expected to shrink further.

Although many of the Conservative Party’s 358 lawmakers have not yet announced who they will support, the shortlist will become clearer as the week progresses.

After taking the field for the final two candidates, they will travel to the UK to campaign for about 200,000 Tory party members, who will then vote for the winner on a one-member, one-vote basis. The candidate who gets the most votes will win the race and announce the new Tory leader and the UK Prime Minister.