The legislation specifically prohibits authorities from requiring the creation or retention of any systemic weaknesses or vulnerabilities, or "any act or thing that will, or is likely to, jeopardise the security of any information held by any other person", other than the individual(s) targeted by the warrant.
I think the law is over-reaching and lacking in sufficient transparency, but I don't really think it would allow anything like the common understanding of "encryption backdoor"?