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Contract Details

David Shearer to depart as Leader of the Labour Party in 2012

David Shearer to depart as Leader of the Labour Party in 2012

SHR.DEPART.2012
Contract Info 
  • Symbol: SHR.DEPART.2012
  • Last Trade Price: $0.0000
  • Last Trade Time:
    26 Dec 12 12:00am
  • Today’s Volume: 0
  • Average Daily Volume: 0.0
  • Today’s Change:
    NC (0.00%) 
  • Start Date: 15 Dec 11
  • Close Date: 1 Jan 13
  • Status: Closed

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Long Description

This contract pays $1 if David Shearer departs from position as Leader of the Labour Party in 2012. Otherwise this contract pays $0.

Judging Criteria 

Departure must be announced or widely understood to be permanent. This contract will not close, for example, due to sick leave, or due to an Acting Leader being appointed while Mr Shearer is overseas or on holiday.

This contract pays out based on when Mr Shearer's departure as Leader of the Labour Party takes effect, and is not based on timing of an announcement. This contract will immediately close when Mr Shearer or his agent suitably authorised, definitively announces the date at which his departure will take effect.

Departure must take effect in 2012 to pay $1. Subject to other conditions, this contract will close at $1 on Mr Shearer's resignation, ousting, or permanent departure due to any reason.

Appointment of a Co-Leader, of which Mr Shearer is one, will not cause this contract to close.

If the Labour Party is renamed, this contract will follow the renamed party.

In the event the Labour Party formally splits, then this contract will follow the leader of the post-split party named "Labour Party" or "Labour". If both or neither parties are so-named, then this contract will follow the party which Mr Shearer leads. In the event neither party satisfies these conditions, Mr Shearer will be judged for the purposes of this contract to have ceased leading the Labour Party on the date the party split formally takes effect.

If the Labour Party formally merges with another party then this contract will follow the merged entity.

Dates and time in New Zealand time. Image sourced from parliament.nz

This contract will be closed no later than 3 working days after the Close Date. The Close Date may be extended if the event outcome cannot be determined by that date.