Earlier quoted context omitted.
I thought so too, and thought that removing the sites from Google Search was a bit bullyish, but it looks like the bill specifically targets links in (2)(b). "Making available of news content (2) For the purposes of this Act, news content is made available if (a) the news content, or any portion of it, is reproduced; or (b) access to the news content, or any portion of it, is facilitated by any means, including an in…
This would include HN
Basically it only applies against you if you're big/important enough. I assume in practice this means Google, Facebook, Twitter, Bing, Apple, and probably some others. Reddit, I suppose.