The effect of new clause 88.1 is to retrospectively cover members of the transition team, if the Prime Minister chooses to so designate them, with respect to the various bans and employment restrictions in the lobbying act.
As new subclause 88.1(2) of the amendment makes clear, it's not a retroactive application in that it would only cover the carrying out of activities after the law comes into force, as opposed to making illegal anything that was done by any of those members between the time they left the transition team and the time when this law comes into force.