(1) If a compensation payer or insurer intends to make an advance payment in respect of the compensation payable under a judgment or settlement, the compensation payer or insurer must notify the compensable person in writing.
(2) The notice must state:
(a) that the compensation payer or insurer intends to make the advance payment; and
(b) the amount of the advance payment; and
(c) the circumstances in which the Commonwealth can retain some or all of the advance payment; and
(d) the circumstances in which the compensable person will be required to make an additional payment to the Commonwealth in respect of eligible benefits.
(3) The notice must be given to the compensable person:
(a) if the judgment or settlement was made after the commencement of this Division--before the judgment or settlement was made; or
(b) if the judgment or settlement was made before that commencement--before the advance payment in question is made and, in any case, within 28 days after that commencement.