Per Lord Chelmsford in Baker v Lee (1860) 8 HL. Cas. 495:
The word ‘eligible’ ... is ambiguous. It may mean either "legally qualified" or "fit to be chosen".
Per Steel J in Seagate Shipping Ltd v Glencore International AG  EWHC 1904 (Comm) at para 29:
In my judgment ‘eligible’ is a straight forward word. It means that the relevant person or object is fit for selection as satisfying the relevant conditions for selection.