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The Australian Capital Territory (ACT), carved out of southeastern New South Wales in two steps (1911 and 1915), contains the national capital, Canberra. The terrain consists of rolling grasslands called the Canberra Basin and is ringed by the Australian Alps. It covers 2,400 sq km (927 sq mi), including Jervis Bay Territory (70 sq km/27 sq mi), part of the ACT from 1915 to 1988. The elevation of the basin is about 580 m (1,900 ft). The population of the Australian Capital Territory is 299,400 (1993 est.), and nearly all residents live in Canberra. Parliament moved from Melbourne to carefully planned Canberra in 1927.