Moneys payable defined to include insurance, salvage or sale proceeds, with a proportionate rule for deemed motor car cost.

The rule defines Moneys Payable to include insurance, salvage or compensation and, where the asset is sold, the sale price, including scrap value. For motor cars whose cost is treated as a statutory deemed amount for depreciation, the moneys payable in respect of such motor cars must be taken in the same proportion as the deemed cost bears to the actual cost as computed before applying the deeming proviso.

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