(1) On and from the appointed day,—
         (a) there shall be a common High Court for the States of Punjab and Haryana and for the Union territory of Chandigarh to be called the High Court of Punjab and Haryana (hereinafter referred to as the common High Court);
         (b) the Judges of the High Court of Punjab holding office immediately before that day shall, unless they have elected otherwise, become on that day the Judges of the common High Court.
     (2) The expenditure in respect of salaries and allowances of the Judges of the common High Court shall be allocated amongst the States of Punjab and Haryana and the Union territory of Chandigarh in such proportion as the President may, by order, determine.