It's no different. I'm not sure if the Bill has hit the Parliamentary floor yet, let alone been read, debated, voted on, passed or given assent.
For those interested, the power exists and has for some time. A recent Federal Court decision is an example of preliminary discovery being invoked, so the lawsuit wasn't even on foot yet. They're just trying to identify a putative defendant via Google's records. In that case, the plaintiff who brought the application was identified and identifiable (i.e. an individual and a valid business), not some random digital nom de plume.
The first step is that there has to a valid cause of action. That's a hurdle for a start. You've got to demonstrate a prima facie case. Courts aren't going to be ordering social media companies to hand over confidential information willy-nilly on a whim. This has come about, in part, as a response to the High Court decision in Voller in September.
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