(1) The Postmaster-General shall pay to the Irish Post Office in respect of any foreign mails sent through Ireland and the Irish Post Office shall pay to the Postmaster-General in respect of any foreign mails sent through Great Britain, such sum as may be agreed upon for the carriage of those mails in Ireland or Great Britain, as the case may be.
(2) The Irish Post Office shall pay to the Postmaster-General;
(i.) One-half of the expense of the packet service and submarine telegraph lines between Great Britain and Ireland after deducting from that expense of the sum fixed by the Postmaster-General as incurred on account of foreign mails or telegraphic communication with a place out of the United Kingdom, as the case may be; and
(ii.) Five per cent. of the expenses of the conveyance outside the United Kingdom of foreign mails, and of the transmission of telegrams to places outside the United Kingdom; and
(iii.) Such proportion of the receipts for telegrams to places out of the United Kingdom as is due in respect of the transmission outside the United Kingdom of such telegrams.
(3) The Postmaster-General and the Irish Post Office respectively shall pay to the other of them on account of foreign money orders, of compensation in respect of postal packets, and of any matters not specifically provided for in this Schedule, such sums as may be agreed upon.
(4) Of the existing debt incurred in respect of telegraphs, a sum of five hundred and fifty thousand pounds, two and three quarters per cent. Consolidated Stock shall be treated as debt of the Irish Post Office, and for paying the dividends on and redeeming such stock there shall be paid half-yearly by the Irish Exchequer to the Exchequer of the United Kingdom an annuity of eighteen thousand pounds for sixty years, and such annuity when paid into the Exchequer shall be forthwith paid to the National Debt Commissioners and applied for the reduction of the National Debt.
(5) The Postmaster-General and the Irish Post Office may agree on the facilities to be afforded by the Irish Post Office in Ireland in relation to any matters the administration of which by virtue of this Act remains with the Postmaster-General, and with respect to the use of the Irish telegraphic lines for through lines in connection with submarine telegraphs, or with telegraphic communication with any place out of the United Kingdom.
Fifth Schedule: Regulations as to Gratuities and Pensions for Civil Servants.
Sixth Schedule: