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endence: none (overseas territory of the UK; also claimed by Argentina) National holiday: Liberation Day, 14 June (1982) Constitution: 3 October 1985; amended 1997 and 1998 Legal system: English common law Suffrage: 18 years of age; universal Executive branch: chief of state: Queen ELIZABETH II (since 6 February 1952) head of government: Governor Alan HUCKLE (since 25 August 2006); Chief Executive Chris SIMPKINS (since March 2003); Financial Secretary Derek F. HOWATT (since NA) cabinet: Executive Council; three members elected by the Legislative Council, two ex officio members (chief executive and the financial secretary), and the governor elections: none; the monarchy is hereditary; governor appointed by the monarch Legislative branch: unicameral Legislative Council (10 seats - two ex officio, eight elected by popular vote, members serve four-year terms); presided over by the governor elections: last held 17 November 2005 (next to be held November 2009) election results: percent of vote - NA; seats - independents 8 Judicial branch: Supreme Court (chief justice is a nonresident); Magistrates Court (senior magistrate presides over civil and criminal divisions); Court of Summary Jurisdiction Political parties and leaders: none; all independents Political pressure groups and leaders: none International organization participation: ICFTU, UPU Diplomatic representation in the US: none (overseas territory of the UK; also claimed by Argentina) Diplomatic representation from the US: none (overseas territory of the UK; also claimed by Argentina) Flag description: blue with the flag of the UK in the upper hoist-side quadrant and the Falkland Island coat of arms centered on the outer half of the flag; the coat of arms contains a white ram (sheep raising was once the major economic activity) above the sailing ship Desire (whose crew discovered the islands) with a scroll at the bottom bearing the motto DESIRE THE RIGHT Economy Falkland Islands (Islas Malvinas) Economy - overview: The economy was formerly based on agriculture, mainly sheep farming, but today fishing contributes the bulk of economic activity. In 1987 the government began selling fishing licenses to foreign trawlers operating within the Falkland Islands' exclusive fishing zone. These license fees total more than $40 million per year, which goes
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