1(1)As soon as practicable after the appointed day, the Post Office shall pay sums equal in the aggregate to the difference between the aggregate of the sums paid by the Postmaster General in pursuance of section 2 of the [1961 c. 15.] Post Office Act 1961 (contributions by the Postmaster General in lieu of taxes, &c.) and what is agreed between the Treasury and the Post Office to be the aggregate of the sums which, had this Act not passed, would have been paid in pursuance of that section by the Postmaster General in respect of the period beginning with the day on which that Act came into operation and ending with the day immediately preceding the appointed day.
(2)As from the appointed day.—
(a)subsection (3) of the said section 2 (destination of payments under that section) shall have effect as if, for the reference to that section, there were substituted a reference to the foregoing sub-paragraph and, for the reference to the Postmaster General, there were substituted a reference to the Post Office; and
(b)subsection (4) of that section (apportionment of sums paid under that section between Great Britain and Northern Ireland) shall have effect as if the reference to that section included a reference to the foregoing sub-paragraph.