(1) As from the appointed day, the Financial Corporations constituted under the State Financial Corporations Act, 1951 (63 of 1951), for the States of Bihar and West Bengal shall be deemed to have been constituted for those States with their areas as altered by the provisions of section 3.
     (2) Bihar shall be liable to pay to West Bengal on account of its share of the paid-up capital of the Bihar State Financial Corporation such amount as the Central Government may by order determine.