So the outcome is not know at this moment. The time for change was today (10-Jan-17) so verdict is still out.
Section 40 in a nutshell makes it so any legal action taken against a publication and the fees as a result of the legal action must be covered by the defending publication, for both sides, even if the defending publication wins the legal battle.
Someone does not like that you are reporting about them? Well they simply have to threaten legal action now and the matter will be dropped by the publication or face potentially huge legal fees as a result which could end the publication entirely.
Woo strike up another one for sane and logical legal systems...