For reference:
The procedure for electing a Speaker has changed in recent years. Until 1971, the Clerk of the House of Commons became temporary Chairman of the House. As the Clerk is never a Member, and therefore is not permitted to speak, he would silently stand and point at the Member who was to speak. However, this procedure broke down at the election of a new Speaker in 1971 (see below) and had to be changed. Since that time, as recommended by a Select Committee, the Father of the House (the member of the House with the longest period of unbroken service who is not a Minister) becomes the presiding officer.
Until 2001, the election of a Speaker was conducted as a routine matter of House of Commons business, as it used motions and amendments to elect. A member would move "That Mr(s) [X] do take the Chair of this House as Speaker", and following debate (which may have included an amendment to replace the name of the member on whom the Speakership was to be conferred), a routine division of the House would resolve in favour of one candidate. There was, however, a considerable amount of behind-the-scenes lobbying before suitable candidates were agreed upon, and so it was very rare for a new Speaker to be opposed. However, this system broke down in 2000 when 12 rival candidates declared for the job and the debate occupied an entire Parliamentary day. The House of Commons Procedure Committee then re-examined the means of electing a Speaker and recommended a new system that came into effect in 2007 and was first used in June 2009, following the resignation of Michael Martin.
Under the new system, candidates must be nominated by at least twelve members, of whom at least three must be of a different party from the candidate. Each member may nominate no more than one candidate. The House then votes by secret ballot; an absolute majority (in the UK sense, i.e. more than 50% of the votes cast) is required for victory. If no candidate wins a majority, then the individual with the fewest votes is eliminated, as are any other candidates who receive less than five percent of the votes cast. The House continues to vote, for several rounds if necessary, until one member receives the requisite majority. Then, the House votes on a formal motion to appoint the member in question to the Speakership. (In the unlikely event that this motion fails, the House must hold a fresh series of ballots on all of the nominees.)
If only one candidate is nominated, then no ballot is held, and the House proceeds directly to the motion to appoint the candidate to the Speakership. A similar procedure is used if a Speaker seeks a further term after a general election: no ballot is held, and the House immediately votes on a motion to re-elect the Speaker. If the motion to re-elect the Speaker fails, candidates are nominated, and the House proceeds with voting (as described above).
Sounds like a lot of parliamentary time, at a point where we don't have enough parliamentary time.
The words 'crisis' and 'constitutional' are lurking