The National Party rules do not dictate how caucus elects the leader. It is left up to caucus to make their own rules. This post is based on what those rules have been in the past. Caucus can change them of course.
- Resolve to have a leadership election (not necessary in case of vacancy)
- Each candidate can self nominate. No longer need to have a mover and seconder.
- Each candidate will make a speech to caucus
- Whips hand out ballot papers and MPs write in the name of the candidate they wish to be leader
- The whips count the votes
- The whips will announce either that a candidate has been elected leader or that no candidate got over 50% (30 votes) of the votes and who the lowest polling candidate is
- If needed, then a final ballot is held between the two remaining candidates
- The whips will announce the result. The number of votes received by each candidate is not disclosed
After the leader has been elected, they will elect a Deputy Leader. I understand it is likely to be later that day.
There may also be election for Whips. It used to be automatic that the Whips would resign when the leadership changes. However this is no longer the case. However again if the leader indicates a preference for a change, then an election would occur.
Unlike Labour, the leader is the sole decider of who becomes a Minister (Labour has the caucus elect the Cabinet). The new leader will consult colleagues and then make announcements in due course.