The Liberal Party of Australia is a major political party in Australia. Founded in 1945 to replace the United Australia Party (UAP), the broadly centre-right Liberal Party is one of the two major parties in Australian politics, along with the Australian Labor Party (ALP).
The UAP ended before 1945.
The given statement does not specify when the UAP ended, so it would be safe to assume it ended before 1945 when the Liberal Party of Australia replaced it.