The federal Conservative party will have a new leader by Sept. 10.

The party says its leadership election organizing committee adopted the rules and procedures and set a date for the race Wednesday.

Candidates will have until April 19 to throw their hats into the ring.

The entry fee will be $200,000, on top of a $100,000 deposit to ensure they comply with the rules, which will be refunded after the contest is over.

That is the same amount of money needed to enter the last leadership race in 2020, which saw Erin O'Toole take the helm of the party.

Membership applications must be in by June 3 and ballots will begin going out to Conservative party members in late July or early August.

This report by The Canadian Press was first published March 2, 2022.