Liz Truss resigned as Prime Minister earlier, raising the question of who will replace her and how the leadership contest will be conducted.

The leadership contest that took place following Boris Johnson's resignation was conducted over a couple of months, but it has been stated that the current one will only last around a week.

Sir Graham Brady, the chair of the 1922 committee, and Jake Berry, Chairman of the Conservative Party, have laid out how the process will work.

In a tweet ITV political editor Paul Brand said: "BREAKING: Sir Graham Brady and Jake Berry say contest will work like this… Nominations close 2pm Monday. Candidates need min 100 votes from MPs. Whittled down to final 2 across next week. Online vote by members to pick winner by Friday 28th Oct.

He also added: "If only one candidate gets over 100 MP votes then they automatically become PM on Monday."

Currently the Conservative party have 357 MPs in the Commons according to the Parliament website, so they will all get the chance to nominate an MP who stands in the contest.

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Candidiates will need to be quick to get the proposals in order before the Monday deadline is reached, and then the eventual final two face off in an online vote from Tory members.

What did Liz Truss say as she resigned?

Liz Truss has become the shortest-serving Prime Minister in British history andPrime Minister in British history, announced her resignation at Downing Street this afternoon.

She said: “I recognise I cannot deliver the mandate on which I was elected by the Conservative Party.

"I am resigning as leader of the Conservative Party. There will be a leadership election to be completed within the next week.

"I will remain as Prime Minister until a successor has been chosen."