The Second Fraser Ministry was the fifty-second Australian Commonwealth ministry, and ran from 22 December 1975 to 20 December 1977. The Liberal Party of Australia is an Australian political party. Founded a year after the 1943 federal election to replace the United Australia Party, the centre-right Liberal Party typically competes with the centre-left Australian Labor Party for political office. Federally, the Liberal Party runs in a Coalition with the National Party (formerly the Country Party), and more recently with the Country Liberal Party (in the Northern Territory) and the Liberal National Party of Queensland. Except for a few short periods, the Coalition has been in existence for almost a century.