It'll be very interesting to see how it works in practice. There will be an administration fee charged to the rights holder for every issued notice, so that will hopefully reduce the number of false allegations.
I don't know what the current laws are like in regard to piracy. Everything I've come across so far has compared the law to the previous attempt, rather than the one that's active now. It'll still be several months before this one is implemented, and I'm aware that changes to the proposal are still possible (I believe that the CFF is calling for a penalty if a rights holder submits a false notice).
