Queen Margrethe II abdication LIVE: Denmark prepares to proclaim Prince Frederik their new king and say goodbye to country’s longest reigning march after shock NYE announcement

This is how the historic day will unfold as the Queen abdicates the throne:

1:35PM (12:35PM GMT, 11:35PM AUS): Frederik, 55, and Mary, 51, set off in a  a 1958 Rolls-Royce from Amalienborg to Christiansborg Palace, along with their son HRH Prince Christian

1:37PM (12:37PM GMT, 11:37PM AUS): Margrethe will follow, leaving from Christian IX’s Palace in a carriage

2PM (1PM GMT, 12AM AUS): There will be a Council of State at Christiansborg Palace, which Margrethe, Frederik, and Christian will take part in together with the Government and the Council of State secretary

2:15PM (1:15PM GMT, 12:15AM AUS): Margrethe will then make her way back to Amalienborg

2:30PM (1:30PM GMT, 12:30AM AUS): Frederik and Mary will hold a formal reception for specially invited guests

3PM (2PM GMT, 1AM AUS): The couple will make a balcony appearance at Christiansborg Palace. The Prime Minister will then proclaim the King’s accession to the throne

3:10PM (2:10PM GMT, 1:10AM AUS): Frederik and Mary will take a carriage from Christiansborg Palace back to Amalienborg, which will be escorted by a mounted squadron

5PM (4PM GMT, 3AM AUS): There will also be a transfer of the royal colours from Christian IX’s Palace to Frederik VIII’s Palace