Since my DRM removal software continues to work in spite of these laws I will continue to strip DRM as necessary.
The format shifting provision does mean that it is legal to scan books and create ebooks. No DRM removal is involved (although the poor print quality of some paperbacks might be construed as DRM by some.)
This legislation is just asking for a court challenge. We have all these rights and the the DRM provision then invalidates them. A clever lawyer might have some fun there.
The Canadian government has been under attack by American and international media cartels for quite a while now. It is significant that the legislation did not change the current copyright term of life life plus 50 years. Steamboat Willie remains public domain in Canada!