I would agree with everything you've said except the suggestion that in some way the legislation changes anything. The legislation says that where the minister grants refugee protection, or grants a stay of removal, and learns later that the decision was based on fraud or misrepresentation, the minister can vacate his or her original decision.
That doesn't change in this bill. It simply takes out of the minister's jurisdiction--to vacate the granting of protection--those cases where the board is responsible for the decision.