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The Liberal Democratic Party, known as the Social and Liberal Democratic Party until 1989, is a political party formed in 1988 from the Liberal Party and the Social Democratic Party. The two latter had previously formed a loose union (1981-1987) for electoral purposes, but failure in the 1987 General Election led to both parties voting for an official merger. The party operates separate but parallel English, Scottish, Welsh, and Federal party structures. In policy making, the Federal Conference, which meets twice a year, is formally sovereign, though much of the decisive influence over policy proposals put before conference is wielded by the Federal Policy Committee. The Policy Committee also has control over the process by which the party's election manifestos are drafted. It consists of the party leader, the party president, and representatives of the parliamentary party, the national parties, the local councillors, and the grass-roots organizations. The Federal Executive, chaired by the party president, oversees the party's general affairs. It consists of the party leader, the vice presidents, members of Parliament, local councillors, representatives of the national parties, members elected by the Federal Conference, and various other members. The rank and file party members have the right to elect the party leader and president, the right to vote in any consultative policy referendum called by the Federal Executive, and the right to vote for parliamentary candidates.