First, you're correct that in the legislative proposal, there's no exception that is created for parliamentary privilege. If a member of Parliament were to receive classified information and then disclose that information in parliamentary proceedings, there could be no prosecution under the Security of Information Act. That parliamentary privilege would protect the member, and this has been established. There are precedents in the U.K., and it's the state of the law as it stands.
That's why, for the NSICOP committee, there is a quid pro quo in that they make available more information to some members of Parliament, provided that they essentially forfeit their parliamentary privilege and that they go through the screening process and get the proper clearance.
It's a policy decision, ultimately. There is always the need-to-know principle that is applicable, so that it's the government that will decide what information it will share with members of Parliament.
If this bill is adopted, there is information that is disclosed as part of parliamentary proceedings. Regardless of the clearance that some members of Parliament have, the government could decide to simply stop sharing any classified information with members of Parliament.