An election of a Lord Speaker shall be held on 13th July 2011. Subsequently, elections shall, subject to paragraphs (2) and (3), be held in the fifth calendar year following that in which the previous election was held, on a day no later than 15th July in that year. If the result of the election is approved under paragraph (7), a Lord Speaker elected under this paragraph shall take office on 1st September in the year of election.