That's a good question. The bill itself is pretty vague so far:

Obligation 27 (1) Subject to section 29, an operator must, with respect to every regulated social media service specified by regulations made by the Governor in Council under subsection (5) that it operates, implement adequate age-verification or age-estimation measures designed to prevent a person under the age of 16 from being able to have an account with, or be otherwise registered with, the service.

Adequacy of measures

(2) In order to determine whether the measures implemented under subsection (1) are adequate, the Commission must be satisfied that the measures

(a) are effective;

(b) do not involve the collection or use of personal information other than for age-verification or age-estimation purposes;

(c) provide for the destruction of personal information that is collected for age-verification or age-estimation purposes once the verification or estimation is completed;

(d) provide for the protection of personal information that is collected for age-verification or age-estimation purposes until that information is destroyed; and

(e) comply with any other requirement specified in the regulations.