The significance of the Statute of Westminster in 1931 lies in its affirmation of legislative independence for the self-governing dominions of the British Empire, such as Canada, Australia, New Zealand, and South Africa. It marked a pivotal shift in the relationship between the UK and these dominions by granting them full control over their internal and external affairs. The statute effectively acknowledged their sovereignty while maintaining connection to Britain, allowing them to govern without Westminster's interference. This laid the groundwork for the evolution of the Commonwealth and contributed to the process of decolonization and the emergence of independent nations in the 20th century.