Candidates to replace Liz Truss as Tory leader will need at least 100 nominations from Conservative MPs, 1922 Committee chair Sir Graham Brady has said.
This will rule out a number of candidates from running, and means the maximum number of people able to stand is three.
During the last leadership election, Rishi Sunak won 137 nominations, Liz Truss 113 and Penny Mordaunt 105.
“We fixed a high threshold but a threshold that should be achievable by any serious candidate who has a prospect of going through,” Sir Graham said.
Nominations are open from now and will close at 2pm on Monday – with a new leader to be chosen by the end of the week.
The final two candidates will take part in a hustings event organised with news broadcasters, before an online vote for members to choose who they want to lead the party.
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However, Sky’s political correspondent Ali Fortescue says “it could end up being that it doesn’t go to the membership”.
She points out that some MPs don’t want the vote to go to the party membership, given that Liz Truss was their last pick.
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“They know this is a last chance – they won’t be able to go through another prime minister as quickly as this,” she says.
One potential option is that MPs coalesce around one candidate, meaning the contest will be over on Monday if only one person is able to receive enough nominations.
Sir Graham has already said that the new prime minister will be chosen by Friday 28 October, with Ms Truss to stay on as PM until then.
The last leadership election – triggered by the resignation of Boris Johnson in July – lasted six weeks and involved several rounds of MPs voting and hustings.
Ms Truss officially took over from her predecessor on 6 September, with members favouring her tax-slashing plan for growth over rival Rishi Sunak’s more conservative fiscal policies.
But in an extraordinary turn of events, her short-lived premiership lasted just six weeks.
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3:46
As Liz Truss resigns as prime minister, we take a look back on her political journey.
Ms Truss announced her resignation earlier on Thursday after she met Sir Graham and agreed for a leadership election “to be completed within the next week”.
It means her replacement will be in place before the crucial fiscal statement on 31 October.
After 44 days in the top job, Ms Truss will be the shortest-serving prime minister in modern British political history.
Her downfall was set in motion by her disastrous mini-budget, which sparked turmoil in the financial markets and forced her to U-turn on the tax-slashing agenda that brought her into office.
In her resignation statement outside Downing Street, Ms Truss said she recognised she could not “deliver the mandate on which I was elected by the Conservative Party”.
MPs call to ‘bring back Boris’
Speculation is mounting about who could replace Ms Truss, with many Conservative MPs calling for Boris Johnson to return.
But any comeback from the ex-PM is likely to be divisive, with other Tories describing such a move as a “fantasy” and “too soon”.
Having been found guilty of breaking his own lockdown laws, he is still the subject of an ongoing inquiry into whether he lied to the Commons over partygate.
Other MPs have thrown their weight behind Rishi Sunak, the former chancellor and runner up in the last leadership race.
Commons leader Penny Mordaunt, who came third, could also be set to throw her hat into the ring.
Sky’s political editor Beth Rigby says Ms Mordaunt is “taking soundings” on the matter.
Sir Keir Starmer, the Labour leader, said the Conservative Party has “shown it no longer has a mandate to govern”, adding that British people “deserve so much better than this revolving door of chaos”.
“Britain is not their personal fiefdom to run how they wish,” he said.
A body has been recovered from a South African mine after police cut off basic supplies in an effort to force around 4,000 illegal miners to resurface.
The body has emerged from the closed gold mine in the northwest town of Stilfontein a day after South Africa’s government said it would not help the illegal miners.
Around 20 people have surfaced from the mineshaft this week as police wait nearby to arrest all those appearing from underground.
It comes a day after a cabinet minister said the government was trying to “smoke them [the miners] out”.
The move is part of the police’s “Close the Hole” operation, whereby officers cut off supplies of food, water and other basic necessities to get those who have entered illegally to come out.
Local reports suggest the supply routes were cut off at the mine around two months ago, with relatives of the miners seen in the area as the stand-off continues.
A decomposed body was brought up on Thursday, with pathologists on the scene, police spokesperson Athlenda Mathe said.
It comes after South African cabinet minister Khumbudzo Ntshavheni told reporters on Wednesday that the government would not send any help to the illegal miners, known in the country as zama zamas, because they are involved in a criminal act.
“We are not sending help to criminals. We are going to smoke them out. They will come out. Criminals are not to be helped; criminals are to be prosecuted. We didn’t send them there,” Ms Ntshavheni said.
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Senior police and defence officials are expected to visit the area on Friday to “reinforce the government’s commitment to bringing this operation to a safe and lawful conclusion”, according to a media advisory from the police.
In the last few weeks, over 1,000 miners have surfaced at various mines in South Africa’s North West province, where police have cut off supplies.
Many of the miners were reported to be weak, hungry and sickly after going for weeks without basic supplies.
Illegal mining remains common in South Africa’s old gold-mining areas, with miners going into closed shafts to dig for any possible remaining deposits.
The illegal miners are often from neighbouring countries, and police say the illegal operations involve larger syndicates that employ the miners.
Their presence in closed mines has also created problems with nearby communities, which complain that the illegal miners commit crimes ranging from robberies to rape.
Illegal mining groups are known to be heavily armed and disputes between rival groups sometimes result in fatal confrontations.
In the courtyard of a farmhouse now home to soldiers of the Ukrainian army’s 47th mechanised brigade, I’m introduced to a weary-looking unit by their commander Captain Oleksandr “Sasha” Shyrshyn.
We are about 10km from the border with Russia, and beyond it lies the Kursk region Ukraine invaded in the summer – and where this battalion is now fighting.
The 47th is a crack fighting assault unit.
They’ve been brought to this area from the fierce battles in the country’s eastern Donbas region to bolster Ukrainian forces already here.
Captain Shyrshyn explains that among the many shortages the military has to deal with, the lack of infantry is becoming a critical problem.
Sasha is just 30 years old, but he is worldly-wise. He used to run an organisation helping children in the country’s east before donning his uniform and going to war.
He is famous in Ukraine and is regarded as one of the country’s top field commanders, who isn’t afraid to express his views on the war and how it’s being waged.
His nom de guerre is ‘Genius’, a nickname given to him by his men.
‘Don’t worry, it’s not a minefield’
Sasha invited me to see one of the American Bradley fighting vehicles his unit uses.
We walk down a muddy lane before he says it’s best to go cross-country.
“We can go that way, don’t worry it’s not a minefield,” he jokes.
He leads us across a muddy field and into a forest where the vehicle is hidden from Russian surveillance drones that try to hunt both American vehicles and commanders.
Sasha shows me a picture of the house they had been staying in only days before – it was now completely destroyed after a missile strike.
Fortunately, neither he, nor any of his men, were there at the time.
“They target commanders,” he says with a smirk.
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It takes me a moment or two to realise we are only a few steps away from the Bradley, dug in and well hidden beneath the trees.
Sasha tells me the Bradley is the finest vehicle he has ever used.
A vehicle so good, he says, it’s keeping the Ukrainian army going in the face of Russia’s overwhelming numbers of soldiers.
He explains: “Almost all our work on the battlefield is cooperation infantry with the Bradley. So we use it for evacuations, for moving people from one place to another, as well as for fire-covering.
“This vehicle is very safe and has very good characteristics.”
Billions of dollars in military aid has been given to Ukraine by the United States, and this vehicle is one of the most valuable assets the US has provided.
Ukraine is running low on men to fight, and the weaponry it has is not enough, especially if it can’t fire long-range missiles into Russia itself – which it is currently not allowed to do.
Sasha says: “We have a lack of weapons, we have a lack of artillery, we have a lack of infantry, and as the world doesn’t care about justice, and they don’t want to finish the war by our win, they are afraid of Russia.
“I’m sorry but they’re scared, they’re scared, and it’s not the right way.”
Like pretty much everyone in Ukraine, Sasha is waiting to see what the US election result will mean for his country.
He is sceptical about a deal with Russia.
“Our enemy only understands the language of power. And you cannot finish the war in 24 hours, or during the year without hard decisions, without a fight, so it’s impossible. It’s just talking without results,” he tells me.
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These men expect the fierce battles inside Kursk to intensify in the coming days.
Indeed, alongside the main supply route into Kursk, workers are already building new defensive positions – unfurling miles of razor wire and digging bunkers for the Ukrainian army if it finds itself in retreat.
Sasha and his men are realistic about support fatigue from the outside world but will keep fighting to the last if they have to.
“I understand this is only our problem, it’s only our issue, and we have to fight this battle, like we have to defend ourselves, it’s our responsibility,” Sasha said.
But he points out everyone should realise just how critical this moment in time is.
“If we look at it widely, we have to understand that us losing will be not only our problem, but it will be for all the world.”
Stuart Ramsay reports from northeastern Ukraine with camera operator Toby Nash, and producers Dominique Van Heerden, Azad Safarov, and Nick Davenport.
The adverse weather could lead to total insured losses of more than €4bn (£3.33bn), according to credit rating agency Morningstar DBRS.
Much of the claims are expected to be covered by the Spanish government’s insurance pool, the agency said, but insurance premiums are likely to increase.