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Sir Graham Brady, chairman of the 1922 Committee, representing Conservative backbenchers, hasissued a statement on the matter after the meeting yesterday. He said: "The Prime Minister is determined to secure our departure from the European Union and is devoting her efforts to securing the second reading of the Withdrawal Agreement Bill in the week commencing 3rd June 2019 and the passage of that Bill and the consequent departure of the United Kingdom from the European Union by the Summer. "We have agreed that she and I will meeting following the 2nd Reading of the Bill to agree a timetable for the election of a new leader of the Conservative and Unionist Party."

MPs on the powerful body gave her one last chance to get her Brexit Withdrawal Agreement Bill through the Commons - stepping back from calls to quit now. But after a "very frank" meeting, 1922 Committee chairman Sir Graham Brady revealed Mrs May will meet him again in around two weeks. And before the meeting had even finished, Boris Johnson officially announced he'll run for the leadership. Sir Graham met Mrs May yesterday with the 18-strong executive of the 1922 Committee.

Theresa May has agreed to set the date for her resignation next month

Despite a split down the middle of the powerful group, they agreed not to demand an immediate resignation timetable. Instead Theresa May will have until after the 'second reading' vote on her Brexit Withdrawal Agreement Bill. The Bill - the FOURTH vote on her Brexit deal - is due before MPs in the week of June 3, at the same time as Donald Trump's State Visit. But privately, government sources appear to accept there will be a leadership contest before the summer holiday. The announcement came as Boris Johnson confirmed he would be a contender when the contest took place.

A chart showing key phases of the Brexit process

I know there is a desire for a new approach - and new leadership - in the second phase of the Brexit negotiations - and I won't stand in the way of that Theresa May

Mrs May told members of the backbench Tory 1922 committee that she would stand down in time for someone else to take the reins for the second phase of the negotiations. The PM said: "I know there is a desire for a new approach - and new leadership - in the second phase of the Brexit negotiations - and I won't stand in the way of that." It would be possible for her to declare she is stepping down, but to remain in post during the contest to select a successor. But now there is an extension it looks likely she will try and stay as PM until the end of October.

Mrs May met with Sir Graham Brady today