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I can't help notice that it's a kind of AV due to the multiple rounds. You could support one candidate first but if they get knocked out you get to transfer your vote to one of the others, your vote isn't effectively discarded. Lovely that these minor or private elections use a more representative system than the more consequential general elections.
Yemble
Had the 1922 Committee adopted STV, Single Transferable Vote, this process would have been over in an hour.