Limited Monarchy is that type of government in which the authority of the Monarch is limited either by the prescriptions of a written constitution or by certain fundamental conventions, as in Britain.
Sometimes the constitution is promulgated by the ruler himself. Sometimes it has been forced upon him by a successful revolution. But whatever is the cause, limited Monarchy is a constitutional government, and it is, in principle, like the Republican form of government.
The only difference between the two is that under a system of limited Monarchy the chief executive Head of the State is a hereditary king whereas in a Republic the chief executive, usually called President, as in the United States of America and India, is elected for a number of years and after the expiry of his term of office, if not re-elected, he joins the ranks of the ordinary citizens of the State.
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But both the constitutional king, under a limited Monarchy, and the President of a Republic, exercise authority as ordained by the Constitution or conventions as in Britain.
They cannot go beyond it. In a limited Monarchy the authority of the long is nominal. The real functionaries are his ministers who are elected members of the legislature and belong to the majority party. They remain in office as long as they can command a majority in and retain the confidence of the legislature.
They cannot be dismissed by the king at his pleasure. Nor can they be chosen at random. Britain is a typical example of a constitutional Monarchy where the King or Queen reigns but does not rule.