More like "stop a bill from being passed into law which may shut down us and the rest of the internet as you know it" - do you have any idea how much labor it would take to be a search engine, video site or social networking site if you were liable for the legal status of all user-created content? Practically every site you use would go under, including the one we're on right now.

Well, that's not how it would happen of course. It's actually worse than you think. If the law were used like you propose, there would be a massive outcry to the point that it would have to be invalidated. Instead, it will be selectively enforced, like everything else these days, in the interest of maintaining power and control for the parties that have purchased this law from their government.

Of course, in ten years time it could have an industry-wide chilling effect much like the DMCA, however in the meantime that will not happen. That's not how you introduce creeping, malicious legislation, and the folks responsible for this know that, of course.