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May will remain ‘acting leader’ of the party and Prime Minister until her successor is elected on 22 July.
The Tory backbench 1922 committee confirmed her resignation in a short statement this afternoon and announced that nominations for the leadership contest would close at 5pm on Monday.
It comes just two weeks after she resigned in an emotional speech outside 10 Downing Street, in which she said it was a matter of a “deep regret” that she could not deliver Brexit.
She added that her successor would have to find a consensus where she had not.
Boris Johnson remains the frontrunner and bookies’ favourite to replace May, followed by Michael Gove, Jeremy Hunt, Andrea Leadsom and then Dominic Raab. [...]