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The Liberal Party of Canada is a centrist Canadian political party which is currently the third-largest party in Parliament. The current Leader of the Liberal Party is Mark Holland, a position he has held since January of 2013.
The Liberal Party was formed as the main party of the Canadian government-in-exile in 1950 and was legalized in Canada in February of 1989 along with other opposition parties as per the Round Table Talks. The Liberals were the leader of an opposition coalition from 1989-1994, when they took power under Jean Chrétien. Chrétien resigned as Prime Minister after the successful 1995 Quebec independence referendum and was replaced by David Collenette, who would stay on as Prime Minister until 2005. Collenette's successor was Carolyn Bennett, who won on the third ballot by defeating Bob Rae. Bennett would lose the 2007 general election after the Liberals had held power for 13 years and was replaced by Michael Ignatieff both as interim leader and later leader in full. After the Liberals lost further seats and the Conservatives gained an outright majority government in the 2011 elections, Ignatieff resigned and was replaced by Bob Rae as interim leader until Mark Holland was elevated to the position after the leadership election of 2013.