I believe this question has been addressed and clarified as limiting the moderation of content to the news organisations' own Facebook pages only, not a general ability to moderate discussion of their articles posted elsewhere by private citizens.
(1) Subsection (2) applies if the registered news business corporation for the registered news business makes a request, in writing, to the responsible digital platform corporation for the digital platform service to do any of the following:
(a) ensure that the registered news business corporation is provided with flexible content moderation tools that allow the registered news business corporation to remove or filter comments on the registered news business’ covered news content that:
(i) are made using the digital platform service; and
(ii) are made on a part of the digital platform service that is set up and able to be edited by the registered news business;
(b) ensure that the registered news business corporation can disable the making of such comments;
(c) ensure that the registered news business corporation can block the making of such comments:
(i) by particular persons; or
(ii) in particular circumstances.
(2) The responsible digital platform corporation for the digital platform service must comply with the request.
I have a Facebook page for my business, and I can already do that today.