Conservatives to elect new leader by September 10

On February 2, Erin O'Toole was forced to resign as leader of the Conservative Party after losing a caucus leadership vote, 73 to 45.

Since then, there has been much speculation regarding who will replace him, as numerous potential contenders have emerged.

On Wednesday, the party set forth the details of its leadership race, announcing that the new leader will be decided by September 10.

According to CP24, candidates have until April 19 to formally register and pay the $200,000 entry fee, $100,000 of which will be refunded after the race is over.

Canadians have until June 3 to send in their membership applications, and ballots will be sent out in July or August.

MP Pierre Poilievre was the first to declare that he will be running for leader, making the announcement on February 5. With a date finally in place, it is likely that more candidates will emerge in the near future.