Hi,
Some additional information ...
'Ground' wiring
I use two of
these, one in the headlamp bucket, one under the seat (because most electrical components are in either of those two areas); I connect individual component 'ground' wires to the nearest "4-way".
I connect the two 4-ways with two lengths of 28-strand, those connected either in a ring terminal on a cylinder head stud or in one of
these above the engine with a third wire to a cylinder head stud.
I connect the 4-way under the seat to battery -ve (on a negative-ground bike) also with 28-strand and through a 15A blade fuse.
Ignition switch
If you plan to use the standard ignition switch, be aware it isn't the one
illustrated in the '72 T150 parts book,

that's the simple on/off ignition switch
not fitted '71/'72 except to the T100 ...
However, if you enter the listed "39565" number with "lucas" into your preferred internet search engine, while it'll return various different 5-figure number, the switches should all have four discrete terminals arranged in a circle:-
... this is correct and #1 to #3 match the terminal numbers in a '72 T150 wiring diagram.

Btw, the bikes that used those switches connected the headlamp on/off switch to terminal #4, your bike has that switch connected to the Brown/Green wire to the pilot bulb. If you don't connect anything to #4, be aware it's 'hot' when the key/switch is turned fully-clockwise.
Ignition switch waterproofing
If you use either Lucas ignition switch type:-
. '81-on twins waterproofed the key end the best, using Nut 97-7120 to take Cover 60-7335 that clips over the lock end. You can also fit Cap 97-7123 to the key to cover the lock end when the key is in the lock.
. T160 and '79/'80 twins aren't quite as good but at least improved on the original '72 chromed ring "Nut" mounting the switch, with Nut 97-4589 to take Cover 60-
4335.
. 2-position switch has a moulded rubber 'boot' as standard to cover the terminals.
. 4-position switch, T160 and '79-on twins mount it inside a waterproof box with the idiot lamps. However, Norton didn't, instead covering the terminals end of the switch with 06-4891 or 06-5723; risking stating the obvious, either'll require 'flag' female spade terminals on the wires.
. Nevertheless, I drill a small hole in the terminals end of the switch, at what'll be the lowest point when the switch is mounted; any water that does get into the switch can drain straight out, rather than swilling around inside for ages corroding the bits inside.
Hth.
Regards,