FACTBOX: Key facts about Australia and its election

(Reuters) - Key facts about Australia, which will hold national elections on November 24.

POLITICS/CONSTITUTION

- Australia is the world's sixth oldest democracy. It gained independence from Britain on January 1, 1901 when six former British colonies became a federation.

- Australia has a Westminster style of government. Parliament has two chambers, the lower chamber House of Representatives and the upper house Senate. The party with the majority in the lower house forms a government.

- The prime minister is chosen by the party which forms the majority in the lower House of Representatives.

- Britain's Queen Elizabeth II is also Australia's monarch. Australia's constitution gives the Queen the right to veto any Australian law, although the provision has never been used.

- Australia's Governor-General represents the Queen.

- All 150 seats in the House of Representatives will be contested at the November 24 election, along with 40 of the 76 seats in the Senate.

- Elections are held every three years, at a time decided by the prime minister, who has wide powers to call elections earlier.