12Payment to transferred person

12 Payment to transferred person

(1) This section applies to a person who is a participating person because of item 3 of the Amendment Act (transferred person). (2) The transferred person is entitled to the CAPS payment specified in subsection 9(1): (a) for the 2010–11 financial year; (b) and each subsequent financial year as long as the person’s participation has not ceased on a date before 1 July of that financial year. (3) For the financial year beginning on 1 July 2010, the Chief Executive Medicare must: (a) make the CAPS payment for the person no later than 30 days after receiving the completed transfer form (transfer form) mentioned in item 3 of the Amendment Act; or (b) if the person elects to receive the CAPS payment in two instalments, pay half the CAPS payment no later than 30 days after receiving the transfer form and half after 1 January 2011 but no later than 31 January 2011. (4) For a financial year after 30 June 2011, the CAPS payment for the person must be paid no later than 31 July in that financial year or, if the person has elected to receive the CAPS payment in two instalments, in the manner specified in paragraph 11(2). (5) If the person gives the transfer form to the Chief Executive Medicare before 1 July 2010, the form is taken to have been provided on 1 July 2010.