Australian prime minister could quit Friday

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Kerry Stokes' West Australian wants Prime Minister (as of deadline) Malcolm Turnbull to step aside for Treasurer Scott Morrison.

Moments after Mr Turnbull announced he may hold the meeting on Friday, Julie Bishop, the foreign minister and the Liberal deputy leader, said she would take part in a leadership contest, if one is held.

If Dutton's supporters succeed, Turnbull is likely to be ousted without completing three years in power, and whoever replaces him will become Australia's seventh prime minister in a decade.

Mr Turnbull will retire from parliament if the spill motion goes ahead.

Turnbull said the leadership crisis was an "internal insurgency" to move the Liberal party to the far right.

Mr Turnbull said the public would be "crying out for an election" once the dust settled. But they failed to get the minimum 43 signatures that were required.

Earlier Dutton told press he believed he had the support of the party - but Bishop said she wasn't sure of his claims.

"However, while that risk can not be entirely discounted, it would remain necessary for the Court to identify an agreement in which Mr Dutton held that interest", Mr Donaghue said in legal advice released on Friday.

Australia is yet again in the midst of political instability, with Prime Minister Malcolm Turnbull widely expected to be forced from office in the coming days.

"The government may adjourn the parliament, but they can not outrun the weight of failure of this government", he said.

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"I consider there to be some risk, particularly in light of the substantial size of the payments that appear to have been made by the Commonwealth to RHT Investments, that the High Court might conclude that there is a conflict between Mr Dutton's duty as a parliamentarian and his personal interests", Dr Donaghue wrote.

Dutton late on Thursday published his own legal advice but should Australia's Solictor-General raise concerns, the leadership prospects for the senior Cabinet minister would be severely dented.

If that meeting calls for a leadership ballot, he will quit Parliament.

Cormann said he, Jobs and Innovation Minister Michaelia Cash and Communications Minister Mitch Fifield had told Turnbull it was "in the best interests of the Liberal Party to help manage an orderly transition to a new leader".

Labor has already released conflicting advice and leading constitutional lawyers have described the case as a grey area.

Mr Dutton's case was unlike previous tests of Section 44, he said, and the seven justices of the High Court were clearly divided over the section's interpretation.

Mr Morrison has been a Turnbull supporter, but has reportedly long held ambitions on the prime ministership.

In a frantic Thursday morning, Australia's opposition parties lost a parliament vote that would have forced a court to determine whether Dutton is eligible for the premiership.

In a surprise vote of ruling lawmakers Tuesday, Turnbull defeated Dutton in such a ballot by 48 votes to 35.

The Liberal Party has run the spill as if it were a political billionaire; in other words, as if it had a 30-seat majority in the House of Representatives.