Prime Minister Malcolm Turnbull has dug in and refused to resign.

These are the words he used in the press conference that captivated the nation:

"Australians will be rightly appalled by what they're witnessing in their nation's Parliament today and in the course of this week," Prime Minister Malcolm Turnbull began.

"So I don't want to enter into a debate about recent events, but set out what is going to happen next.

"Now, the House has been adjourned at the request of Mr Dutton and so I now await a letter with the signatures of a majority of the party room — which is 43.

"If I receive that then I will convene a new party room meeting. The party room, of course, met on Tuesday and confirmed my leadership by a majority. So we need to see that there is a majority of members and they need to put their names to it too.

"These are momentous times and it's important that people are accountable for what they're doing.

"So when I — if assuming I get that letter, which I read in the press is already in place, but perhaps maybe it isn't, we'll see. But as soon as I get that, my intention is to hold a party meeting at midday tomorrow [Friday]."

Prime Minister Malcolm Turnbull addresses the media scrum in Canberra. ( ABC News: Matthew Abbott )

On Dutton's eligibility

"It's important that before the party meeting is held, we have access to the advice of the Solicitor-General on the eligibility of Mr Dutton to sit in the Parliament and we expect that advice to be available first thing in the morning — that's what the Attorney-General has advised me.

"This is a very, very significant point.

"As we all know section 44 has been a companion of this 45th Parliament. But I cannot underline too much how important it is that anyone who seeks to be Prime Minister of Australia is eligible to be a member of Parliament.

Because a minister, let alone a Prime Minister, who is not eligible to sit in the House is not capable of validly being a minister or exercising any of the powers of a minister.

"So you can understand how important this issue is. Now, the Solicitor-General was briefed on it yesterday and I'm sure is working to complete his advice, but it's a very important point.

"So — and of course we don't know what he'll say. But that advice at least will mean the party room is informed and, indeed, Mr Dutton is informed. That may impact on his decision to run or not."

The Solicitor-General is looking at whether Peter Dutton is eligible to be a member of Parliament. ( ABC News: Matthew Abbott )

On calling a spill motion and the Government's effectiveness

"In terms of my own intentions, when the partyroom meeting is called, I will invite a spill motion to be moved."

"If the motion is carried, I will treat that as a vote of no confidence and I will not stand as a candidate in the ballot. So that — those are the events that will unfold over the next few days.

"There's time enough to talk about the implications of these events. I'd just say this to you all; as you know, the Government that I have led has been a very effective one.

"We have achieved an enormous amount in economic reform and social reform in this Parliament despite the fact that we have had a one-seat majority in the House and a minority in the Senate.

"The Cabinet has worked very, very cohesively and confidentially.

"It's been a very good Cabinet. I want to thank all the cabinet ministers."

A minority of partyroom 'bullies'

"The reality is that a minority in the party room supported by others outside the Parliament have sought to bully [and] intimidate others into making this change of leadership that they're seeking."

"It is a — it's been described by many people, including those who feel they cannot resist it, as a form of madness, and it is remarkable we're at this point where only a month ago we were being, as you all know being avid readers of polls, just little bit behind Labor and in our own polls a little bit ahead, but in any view, thoroughly competitive.

"So those are the events that will unfold over the next few days. I'm happy to take a few questions but please don't all shout at once."

Mr Turnbull says a minority in the party room have "sought to bully and intimidate others". ( ABC News: Matt Roberts )

Has the PM been betrayed by his colleagues?

Again, I'll leave the emotions. I'm going very hard-headed about this, I'm happy to take questions on factual matters.

Will Turnbull stay in the Parliament?

"I have made it very clear that I believe former prime ministers are best out of the Parliament and I don't think there's much evidence to suggest that that conclusion is incorrect."

"The public will be crying out for an election, clearly. And if … it may be that the spill motion is not carried and I remain Prime Minister and we can try to restore some stability, but assuming it is carried and there is a new leader of the Liberal Party, that person will have to obviously satisfy the Governor-General that they can command a majority on the floor of the House of Representatives.

In the case of Mr Dutton, I think he'll have to establish that he is eligible to sit in the Parliament. I mean, again, I don't want to elaborate on this anymore than I need to, but this issue of eligibility is critically important.

You can imagine the consequences of having a prime minister whose actions and decisions are questionable because of the issue of eligibility.

[The question is] are they validly a minister at all? Now, I hope the Solicitor-General deals with this very conclusion conclusively and clearly and it won't be an issue at all."

'The public hate what is going on'

"…We have delivered, as you know, stronger economic growth, we delivered more jobs, we have delivered tax cuts for businesses, for families, we have delivered record spendings in health and education and infrastructure."

"So the Government has performed very well and the — you know, the proof insofar as you need proof of those things, the proof has been there in the polls.

"Obviously the history of the Government's polling, again I don't want to overdo the polling commentary, but you all love it, has really been this: That when we have been able to get on with governing, we have done well.

"When there has been internal insurrection, you know, of the kind — well the kind we have seen in its extreme form in the course of the last week or so — when there have been distractions, our numbers go down. The public hate what is going on at the moment. They want everyone here to be focused on them. I have done everything I can to keep the Liberal Party and indeed the Coalition united.

"I want to thank Michael McCormack, the Deputy Prime Minister, by the way for his solidarity and my own deputy, Julie Bishop, but obviously if people do want to conduct an internal insurgency, then, you know, that — they're very hard to stop.

"So we'll have to let the democratic process play out.

"Again, I'm not going to, you know, get — go into names or anything remotely approaching recrimination or anything of that kind. I mean, politics is a tough business.

"You have got to judge the political actions by their outcomes. I think what we're witnessing — what we have witnessed at the moment is a very deliberate effort to pull the Liberal Party further to the right.

"And that's been stated by a number of the people who have been involved in this."

Mathias Cormann, Michaelia Cash, Mitch Fifield outside Parliament after withdrawing support for Malcolm Turnbull's prime ministership at a snap press conference. ( ABC News: Matt Roberts )

'I have never given in to bullies'

"I just say that what began as a minority has by a process of intimidation, you know, persuaded people that the only way to stop the insurgency is to give in to it."

"I do not believe in that. I have never done that. I have never given in to bullies, but you can imagine the pressure it's put people under.

"In my line of work, personal feelings have got to be put aside. This is all about 25 million Australians. My job is about advancing their interests.

"I regret that the attention of the Parliament is not focused on 25 million Australians at the moment.

"I'm hopeful that these issues can be resolved and I look forward to the… to the meeting, assuming it goes ahead tomorrow at midday. I want to thank you all so much. Thanks a lot."