some important sections will be effective after governor-general sign the bill.
Some sections of the Act will be 2 months after signing. This is because some preparations are needed ( the screening process) and other rules and regulations that will be made under the Act, they will be effective after 2 months of signing.
I can bet not many lawyers/conveyancers will want to do files that have a foreigner (overseas person) on it at the moment as the law is in the process of transitioning.