Any delay will require the agreement of all other 27 European Union members, with talks about possible conditions for an extension to take place before next week's European Union summit, which begins on Thursday. Mrs May's spokesman has said that the government was still making preparations in the event of a no-deal divorce.
The European Commission said it would be down to the bloc "to consider such a request, giving priority to the need to ensure the functioning of the EU institutions and taking into account the reasons for and duration of a possible extension".
As aforementioned, following the reveal of the news of averting a no-deal disaster, the British currency space-dived, surging to a nine-month high of $1.3380, with a record intra-day gain of more than 2 percent, which had also opened up an opportune moment to break potential levels and to reach $1.35-1.36 levels in a near-term outlook.
PROFESSOR MARC STEARS, director of the Sydney Policy Lab at the University of Sydney.
"That's the best option", the French presidency said, in which case no European Union state is expected to oppose a "technical extension" that would give Britain time to vote on a series of laws for ensuring a smooth Brexit. The 61-year-old former Polish prime minister will chair what is expected to be a four-hour debate amongst EU27 leaders on the length of any Article 50 extension offered to Theresa May.
One cabinet minister has now told The Sun that they believed the chairman of the 1922 committee, Sir Graham Brady, would have to "tap her on the shoulder" and suggest that she leave her post.
If the vote is successful then she can ask for a "short technical extension" to Article 50.
One further complication is that due to United Kingdom parliamentary rules the Speaker John Bercow could decide there should be no further debates and votes on Mrs May's deal as it has already been rejected and is not likely to have changed in any way by next week.
This incredible state of affairs has come to pass despite the Prime Minister having repeatedly promised that Article 50 would not be extended and that Brexit would be delivered "on time" - in line with her now long-abandoned mantra that "no deal is better than a bad deal".
Still, Mrs May has an arduous task ahead. Parliament voted this week to seek to delay Britain's departure until at least June 30.