Elections to the Australian Capital Territory Legislative Assembly were held on Saturday, 15 February 1992, alongside a referendum on an electoral system for future elections. The incumbent Labor Party, led by Rosemary Follett, was challenged by the Liberal Party, led by Trevor Kaine. Candidates were elected to fill seats using a modified D'Hondt method for a multi-member single constituency. The result was another hung parliament. However, Labor, with the largest representation in the 17-member unicameral Assembly, formed Government with the support of Michael Moore and Helen Szuty. Follett was elected Chief Minister at the first sitting of the second Assembly on 27 March 1992.