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The new King has vowed to follow his mother's "inspiring example" as he was formally proclaimed monarch at a historic Accession Council televised for the first time in history.
Charles automatically became King following the tragic death of Queen Elizabeth II, but his role was officially confirmed during a sombre ceremony at 10am today.
A ceremony was carried out by the Accession Council - attended by Privy Counsellors - at St James' Palace.
Members cheered "God Save the King" during a sombre ceremony attended by Prince William and the Queen Consort Camilla, as well as the Archbishop of Canterbury and former prime ministers.
The new Prince of Wales signed the proclamation, with Camilla, Prime Minister Liz Truss and Justin Welby also signing the document.
Proceedings then moved to the Throne Room, where King Charles III paid tribute to his "beloved mother" - describing the "irreparable loss we've all suffered".
"My mother gave an example of lifelong love and of selfless service," he said.
"My mother's reign was unequalled in its duration, dedication and devotion.
"Even as we grieve, we give thanks for this most faithful life."
King Charles said he is "deeply aware of this great inheritance and of the duties and heavy responsibilities" which have been passed to him.
He added: "In taking up these responsibilities, I shall strive to follow the inspiring example I have been set in upholding constitutional government and to seek the peace, harmony and prosperity of the peoples of these Islands and of the Commonwealth Realms and Territories throughout the world."
The King signed the oath he declared in front of the Privy Council during the short ceremony which lasted about 40 minutes.
One of the orders approved by His Majesty was for the day of the Queen's funeral to be a Bank Holiday - but the date is yet to be confirmed.
A Principal Proclamation was read in public by the Garter King of Arms from the balcony overlooking Friary Court at St James' Palace an hour later at 11am.
He declared "three cheers for His Majesty the King" while the King's Guard joined in and raised their bearskin caps above the head - while the crowd hoorayed.
It will be followed by a flurry of Proclamations around the country, with the second one at City of London at the Royal Exchange at noon, and further Proclamations in Scotland, Northern Ireland and Wales at noon tomorrow.
Buckingham Palace issued details of the arrangements, considered the first official orders of business of a new reign, on Friday.
It was confirmed cameras would be allowed inside the State Apartments to capture the proceedings for the first time.
In recognition of the new Sovereign, union flags are being flown at full-mast from the time of the Principal Proclamation at St James’s Palace until one hour after the Proclamations in Scotland, Northern Ireland and Wales.
Flags will then return to half-mast in mourning for the death of Her Majesty The Queen.
King Charles III told the nation and the world in his first public address yesterday he will endeavour to serve "with loyalty, respect and love".
Speaking to the nation in a pre-recorded message, His Majesty said: "I speak to you today with feelings of profound sorrow.
"Throughout her life, Her Majesty The Queen, my beloved mother, was an inspiration, an example to me and to all my family and we owe her the most heartfelt debt any family could owe to their mother for her love, affection, guidance, understanding, and example.
"Queen Elizabeth's was a life well lived, a promise with destiny kept, and she is mourned most deeply in her passing."
Charles has automatically become King on the death of his mother, but the Accession Council is usually convened at St James’s in London within 24-hours of the death of a sovereign.
It was staged a day later for King Charles III because the announcement of the Queen’s death did not come until early evening on Thursday, meaning there was not enough time to set the plans in motion for Friday morning.
The Palace said on Friday: “His Majesty The King will be proclaimed at the Accession Council at 10.00hrs tomorrow morning 10th September in the State Apartments of St James’s Palace, London.
“The Accession Council, attended by Privy Councillors, is divided into two parts. In Part I, the Privy Council, without The King present, will proclaim the Sovereign, and formally approve various consequential Orders, including the arrangements for the Proclamation.
“Part II, is the holding by The King of His Majesty’s first Privy Council. The King will make his Declaration and read and sign an oath to uphold the security of the Church in Scotland and approve Orders in Council which facilitate continuity of government.”
Historically, the entire Privy Council is summoned to the Accession Council to oversee the formal proclamation of a new monarch.
But with the number of privy counsellors – who are lifetime members and mostly past and present politicians – now standing at more than 700, restrictions have been put in place.
Just 200 were summoned, and those cut will be asked to enter an annual ballot for a few remaining seats, with the decision prompting a row over the lack of consultation and the loss of the key duty.
This does not affect the constitutional process.
The Accession Council must take place before Parliament meets, and Parliament should meet as soon as practicable after the death of a sovereign.
It is divided into two parts, and is presided over by the Lord President of the Council, who has ministerial responsibility for the Privy Council Office.
Penny Mordaunt was appointed Lord President of the Council, and Leader of the House of Commons, on Tuesday in Liz Truss’s new Cabinet, in place of Mark Spencer, with the Queen officially approving the appointment.
– Part l – The Proclamation
The chosen privy counsellors – without the King – gathered at St James’s Palace to proclaim the new sovereign, joined by Great Officers of State, the Lord Mayor and City Civic party, Realm High Commissioners and some senior civil servants.
Camilla – the new Queen Consort – and the Duke of Cornwall and Cambridge are already privy counsellors so will be present.
When the meeting began, the Lord President announced the death of the sovereign and called upon the Clerk of the Council to read aloud the text of the Accession Proclamation.
It included Charles’s chosen title as King – already known to be King Charles III.
The platform party – made up of Camilla and William, the Archbishop of Canterbury, the Lord Chancellor, the Archbishop of York, the Prime Minister, the Lord Privy Seal, the Lord Great Chamberlain, the Earl Marshal and the Lord President – then signed the Proclamation.
The Lord President then called for silence and read the remaining items of business, which deal with the dissemination of the Proclamation and various orders giving directions for firing guns at Hyde Park and the Tower of London.
– Part II – The King’s First Privy Council
Charles then entered and held his first Council, which is only attended by privy counsellors.
He first made a personal declaration about the death of the Queen.
Then his next act was to take the oath to preserve the Church of Scotland – because in Scotland there is a division of powers between Church and State.
He read it out loud and signed two identical Instruments recording the taking of the oath, with his signature witnessed by Camilla, the new Queen, and the Duke of Cornwall and Cambridge, and others including the Secretary of State for Scotland and the Scottish First Minister.
Another oath, the Accession Declaration, to maintain the protestant succession, is normally made several months later at the State Opening of Parliament.
Other business was also dealt with, including the use of the Seals, to “facilitate the continuity of government”.
Privy counsellors will sign the Proclamation as they leave.
The official record of proceedings will be published in a special supplement to the London Gazette.
– The first public proclamation
After the Accession Council, the first public proclamation of the new sovereign was read in the open air from the Friary Court balcony by the Garter King of Arms at St James’s Palace at 11am in the presence of the Earl Marshal and two of the sovereign’s Serjeants at Arms.
Amid great ceremony, trumpeters usually play a fanfare from the balcony and gun salutes are fired in Hyde Park and at the Tower of London at the same time.
The Proclamation will then be read at the Royal Exchange in the City of London at midday.
It will also be read out publicly in other cities including Edinburgh, Cardiff and Belfast at midday on Sunday and usually at Windsor and in York, where the mayor traditionally drinks to the new sovereign’s health from a golden goblet.
The Privy Council – the oldest form of legislative assembly still functioning in the UK – dates from the time of the Norman kings when the monarch met in private – hence the description Privy – with a group of trusted counsellors who fulfilled the role the cabinet performs today.
The sovereign is its head and the body advises the monarch as they carry out duties as head of state.
The council also provides administrative support for the leaders of the Commons and Lords and has responsibility for the affairs of 400 institutions, charities and companies incorporated by royal charter.
It has a judicial role as the court of final appeal for UK overseas territories and crown dependencies and for a number of Commonwealth countries.
Meetings take place with members standing up throughout.
Queen Victoria is believed to have started the convention in 1861 following the death of her beloved consort Prince Albert when she wished to reduce her public duties to the minimum necessary.