The Progessive Democrats have agreed to change the rules governing the election of a party leader.
At a meeting of the party's General Council in Dublin today, it was agreed that senators, county councillors and other party members be allowed to stand for leader.
Until now, only TDs or senators were permitted to run for the position.
The party has been without an official leader since Michael McDowell lost his seat at last year's General Election. Both the party's TDs, acting leader Mary Harney and Galway West TD, Noel Grealish, have said they do not wish to hold the position.
"It's important that a new generation take up the leadership of the party at this time," Ms Harney said today.
Galway Senator Ciarán Cannon announced his intention to contest the leadership election at the meeting. Former Dún Laoighaire TD, Senator Fiona O'Malley is also expected to put her name forward.
The party's National Executive will meet next week to finalise a date for the close of nominations and the timetable for a postal ballot.
The PDs lost six Dáil seats at the last election, including Ms O'Malley's. Their Seanad representation dropped from five senators down to two.