Well it's not a constitutional body. So as long as it remains independent (most likely) it'll be lethal against corruption.
But what if someone tries to corrupt them? What makes them immune from corruption?
Get off the high horses. It's all run by the people after all - you just hope to create a good balance of power and try to put better, educated people in places of power. There is no magic wand to suddenly rid of all malaise for you while you sit still and criticize. That's what the bill is trying to do.
Does one decide not to harm someone, just because we have laws against it ?
By the way, don't we already have laws against corruption, why hasn't this stopped anyone yet ? Are more laws going to stop it ?