Jeremy Corbyn Hugging Other Labour Leadership Candidates

The video transcript involves a speaker addressing formalities at a conference, requesting attendees and media to take their seats so the event can proceed smoothly.

What are the formalities mentioned in the text?

What request is made regarding the seats?

What should attendees do during the conference?

What is the purpose of sitting down as mentioned in the text?

What is implied by the phrase 'see what's going on'?