Conservative leadership race officially kicks off Monday now that the rules are set

The race for the next leader of the federal Conservatives will officially begin on Monday.

The party has now set and released the rules for the contest, which include a non-refundable $200,000 entry fee.

9:26 Political strategy in a minority government

Leadership hopefuls will also need the signatures of 3,000 party members on their nomination forms.

Candidates must enter the contest by February 27 and will have until March 25 to meet the requirements in order to be fully approved.

The leadership campaign began unofficially in mid-December when current leader Andrew Scheer announced he’d resign as soon as his replacement was chosen.

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Party members will elect their new leader on June 27 at a convention in Toronto.

2:05 Andrew Scheer resigns as Conservative leader