The counting procedure concludes to reveal that Brexit is now a reality. With the larger part of England and all of Wales voting to leave the European Union, the Leave camp has gathered 52% of the votes. It will take about two years for the United Kingdom to make an official exit, to be implemented in under Article 50 of the Treaty of European Union.
Prime Minister David Cameron, head of the ruling Conservative Party, is expected to make a statement shortly.
Here are the latest updates:
10:45 AM (IST) : The UK has voted to leave the EU by 52% to 48%. Leave won the majority of votes in Wales and England, while every council in Scotland saw remain majorities.
10:40 AM (IST) : Leave has crossed the line to win with 16,835,512 votes, to Remain's 15,692,093.
Harry Potter creator J K Rowling laments Britain's exit on Twitter.
Goodbye, UK. https://t.co/HMRA0AnlWR— J.K. Rowling (@jk_rowling) June 24, 2016
10:36 AM (IST) : The Leave campaign has officially passed the winning post in the EU referendum, the Press Association reports.
10:25 AM (IST) : Grabbing 51.7% of votes so far, the Leave camp needs 373,532 votes to win.
10:20 AM (IST) : Scotland's Scottish Green party insist that the nation will"examine and exhaust every option for continuing Scotland's close ties with Europe".
Scotland 'sees its future as part of the EU': First Minister (Source: AFP)— ANI (@ANI_news) June 24, 2016
10:15 AM (IST) : UK Independent Party leader Nigel Farage, who has been at the forefront of lobbying for Britain's exit, welcomes 'victory for decent people'.
10:12 AM (IST) : Scotland voted to stay in the EU by a large margin, while the UK as a whole, and all of Wales voted to opt out of the European Union.
10:10 AM (IST) : With 20 results left to declare, BBC figures put Leave camp at 16,184,565 votes, and Remain camp at 15,084,310 votes.
9:55 AM (IST) : There has been 71.88% turnout as of now, with 33 of 382 local authorities still to declare. The polling figures leave little room for doubt that Britain and the EU are in fact heading for splitsville.
9:45 AM (IST) : A BBC forecast suggests that the UK, majorly backed by voters in Wales and provinces in the north of England, has voted by 52% to 48% to leave the European Union after 43 years in an historic referendum.
9:40 AM (IST) : 52 of 382 local authorities still to declare, while the Leave camp grabs 52% of the votes. If Britain does choose to leave the European Union, it is expected to have economic repercussions of massive proportions across the world.
9:35 AM (IST) : Asian markets take hit as British media predict Britain's exit, marking a volatile day in the markets. British pound at an all time low.
9:25 AM (IST): Leave performing better than expected in England and Wales, while Remain is doing well in London.
9:20 AM (IST): With 70 results left to declare, the Leave camp has garnered 13,349,424 votes, and Remain is at 12,482,484 votes.
8:53 AM (IST): Biggest fall for Pound since 1985.
8:50 AM (IST): Prime Minister David Cameron may have to resign if Britain votes for Brexit, the shadow foreign secretary of the US, Hilary Benn said.
8:48 AM (IST): Manchester is still united with "Remain". Cardiff too votes to "Remain".
8:45 AM (IST): 200 areas voted 52 per cent support to "Leave". Hackney, Kensington & Chelsea, Whitehorse, Rushcliffe, and Cotswold decide to "Remain" while Eastleigh elects "Leave".
In the polls, held on 23 June, over 46 million people had registered to decide the fate of Britain and European Union. The voting paper asked the basic question to Britons: "Should the United Kingdom remain a member of the European Union or leave the European Union?"