This would be similar to prior acts that put restrictions on cigarette advertising. From the Act:

And whereas Parliament is of the opinion that fossil fuel advertising currently deploys techniques which knowingly mislead the public and fail to disclose the health and environmental harms associated with their use, impeding informed consumer decision-making, undermining public support for effective climate action and delaying the transition to safer, cleaner energy sources;

This Act will be coming up for second reading at some point. So, please write both the PM and your MP in support of this Act.