once +40mV is reached, voltage gated Na+ channels close
more voltage gated K+ channels open, and K+ leaves the axon by facilitated diffusion
this brings about REPOLARISATION of the axon membrane (+40mV returns to -70mV)
there is a K+ overshoot as K+ leaves the axon rapidly
this causes HYPERPOLARISATION, and the membrane potential goes below -70mV
while the axon membrane is hyperpolarised, this is called the refractory period
eventually K+ channels close
resting potential is restored using the sodium potassium pump