As you are likely aware, the decision to confer the title of chief justice is a prerogative of the Prime Minister. I would suggest it's not something that would be appropriately done in the legislation. In fact, this is something that has been drawn to my attention.
I know that there are considerations in the broader context of the overall structure and operation of the territories. I am not ruling out anything in that respect. But it would not be appropriate to put it into a statute, given that it is the prerogative of the Prime Minister and might raise constitutional issues.
That being said, your points are well taken, in respect of the salaries and other benefits the senior judges in the territories receive.