Out of the proceeds of the tax, penalties, interest other amounts recovered under this Act, there shall be paid annually to such Local authority as were levying a tax on professions, trades, callings and employments, immediately before the commencement of this Act, such amounts on the basis of the highest collections of such taxes, penalties and interest made by them in any year during the period of three years immediately preceding such commencement as may be determined by the Government in this behalf.