A largely self-governing overseas territory of the United Kingdom, the Falkland Islands has its own constitution. The territory is overseen by a governor, who is appointed by the monarchy. The governor is obligated to consult with the Executive Committee when making policy decisions. The Executive Committee consists of the Chief Executive, the Director of Corporate Resources, and three members of the Legislative Assembly.
The Legislative Assembly is comprised of a Chief Exective, a Director of Finance, and eight elected individuals: five from Stanley, and three from outside of the city's limits, an area commonly referred to by Islanders as Camp. All candidates for the Legislative Assembly run for office as independents; there are no political parties. Meetings are held monthly, in which Islanders may interact with their representatives.
While there is a significant military presence in the Falklands, it does not participate in the territory's legislative affairs.
In recent years and with the exception of military expenses, the territory has been largely self-sufficient. Fishing, agriculture, and tourism are all significant sources of revenue.
Exploratory oil drilling has taken place with some success, suggesting that fuel will be a key industry for the Falklands in the years to come.