UPDATED 2.33pm: ACT's sole MP David Seymour is set to become the new party leader, after Jamie Whyte handed in his resignation today.
He says it's an honour to take on the new role, and he relishes the opportunity.
Party President John Thompson has also released a statement, saying Mr Whyte proved himself a principled and clear-headed advocate of ACTs values.
He says they're proud to have had Mr Whyte as leader, and hope the New Zealand public hasn't seen or heard the last of him.
Whyte resigns
A shock departure for the ACT party, with leader Jamie Whyte resigning.
He says he's made the decision with regret because of a clear election result.
Mr Whyte says he stood to lead ACT because he believes in the party's ideas, and he'll continue to advance those ideas both inside and outside the party.
He's not ruling out returning to a role with ACT in the future, but for now he says he's focused on getting back to his career and family.
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