The powers and provisions of sections three hundred and thirty-five to three hundred and forty-one, both inclusive, and section three hundred and forty-five of the Customs Consolidation Act, 1853, and of sections two hundred and seventy-five and two hundred and seventy-six of the Customs Consolidation Act, 1876, shall continue in force as if this Act had not been passed (if the Commissioners of the Treasury shall think fit to exercise the same), except that the moneys referred to in the two hundred and seventy-fifth section of the said Act of 1876, arising from or paid in respect of lands or hereditaments in Great Britain, or the Isle of Man, or the Channel Islands, shall be paid into the Bank of England to the account of the Commissioners of Works instead of to the Commissioners of Customs, and that lands which under the two hundred and seventy-sixth section of the said Act of 1876 would have vested in Her Majesty, her heirs or successors, shall vest in like manner in the Commissioners of Works.