OTTAWA -- The Liberal Party of Canada announced Thursday that the nationwide race to choose the next leader of the party will conclude on March 9.

"After a robust and secure nationwide process, the Liberal Party of Canada will choose a new leader on March 9," said Sachit Mehra, president of the Liberal Party of Canada.

According to a statement issued by the party, the new leader will be announced on the same day.

The cut-off date to become a registered Liberal and be eligible to vote in the leadership race will be Jan 27, and the party must publicly post the registration procedures for a leadership vote 27 days before the date of the vote, said the statement.

A leadership contestant must declare their participation in the race by Jan 23, the statement added.

The National Board updated the requirements for becoming and maintaining status as a registered Liberal, including a minimum age requirement of 14 years old. A registered Liberal must be a Canadian citizen, have status under the Indian Act, or be a permanent resident of Canada, the statement said.