Paul Quinn

I am confused. I have stock in Paul Quinn being eligible to enter Parliament.

One line says " It does not matter whether or not Mr Quinn decides to take up his seat."

The next line says "If it becomes clear at any time that Mr Quinn cannot enter the New Zealand Parliament before the next election under any circumstances (for example, as a result of death or imprisonment) or if he definitively announces he will not, under any circumstances, take up his seat, this contract will immediately close at $0, and a replacement contract will be launched.

Surely these two lines contradict each other. Which is correct? He has become eligible to enter Parliament, so will the stock close at $1?



Edited 2 time(s). Last edit at 04/22/2013 10:45PM by stevony.

I guess the purpose of the second statement is that if, ahead of him becoming eligible, he publicly announced he wouldn't take it if offered, eg if someone said "I'm renouncing my position in Party X and I'm going to live as a hermit on the west coast" that would be grounds to close it at $0 immediately, prior to the list vacancy becoming open.

This most likely is a result of what happened with Judith Tizard, when she announced publicly on TV that she wouldn't be taking up the list seat, but the contract at the time said "Judith Tizard to enter Parliament" whereas the new ones clearly say "eligible to". We had a situation where there were 100+ traders sitting on iPredict on a Sunday morning waiting for her to state her decision in order to sell/buy stocks. I was there and actually managed to get my sale in slightly ahead of others and made a nice $30 IIRC.

This is contradictory, IMO.

I don't think your logic holds up either Lanthanide, if Quinn resigns his membership in the party, then he's no longer eligible, so it would be a clear-cut case to close at zero.