So… what happens now?
The candidate with the least votes will be eliminated from the contest.
If there are still more than two candidates in the running, an additional vote will take place on Tuesday, with a result at 3pm.
If two hopefuls tie at the bottom, they will both leave.
Today, Suella Braverman left the race, with Rishi Sunak, Penny Mordaunt, Liz Truss, Kemi Badenoch and Tom Tugendhat still in the running.
On Monday, a third ballot will take place – with a result announced by the chair of the 1922 Committee Sir Graham Brady at 8pm.
It is also possible that a fifth ballot could take place on Wednesday.
As soon as we are down to two candidates, the vote goes to the Conservative Party members.
We will have a result on 5 September, when Parliament resumes.