No, not at all. In fact, Mr. Ripley answered that question very well earlier, in the first hour of the meeting, when he said that it was not a law, but a directive. The CRTC has no authority over this issue. It's a government decision.
Could another government decide to change things? A government is always sovereign and free to make its own decisions. In any event, the CRTC cannot do that, and the act does not change that. The directive that is in place stays in place.