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Britain's Conservative 1922 Committee executive has agreed that the forthcoming Tory leadership race should follow the same rules as the 2005 election which saw David Cameron elected.
That would mean nominations opening on Wednesday evening, after a full meeting of the backbench 1922 committee and closing on Thursday lunchtime at 12 noon.
This means that anyone who is thinking of running has between now and Thursday to decide if they have enough support to do so.
To run you simply need to be proposed and seconded by fellow Conservative MPs.
If, by 12 noon this Thursday, there are more than two people who have put themselves forward they will then face a run off in a series of contests, within the 331-member parliamentary Conservative Party.
The first vote will take place next Tuesday, in a secret ballot.
The candidate with the fewest votes will be eliminated and a further vote held on Thursday.
Voting will take place every Tuesday and Thursday until the field of candidates is whittled down to two candidates.
The length of this process is wholly dependent on the number of candidates.
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