War Damage
p. 33 · Read in the full issue
Basis Of Assessment For
11TE have received, the following advice
TT from the War Damage Commission,
Sydney:—
In the January issue of the “Pacific Islands Monthly,” page 32, it is stated that the new National Security (War Damage to Property) Regulations provide for the assessment of war damage claims on the basis of “cost of restora tion at the present day.” This is misleading.
The general basis of assessment is still the value at the time of occurrence of war damage, but in assessing partial damage (as distinct from total loss) to fixed property, the basis adopted is the present-day cost of restoration to the condition in which it was immediately prior to war damage, but even then compensation is limited to the value of the fixed property at the time of war damage.