Can we draw the following hypothesis from the context (see options)?

Context:

The federal act, when it applies to Quebec and the other provinces, will affect federally regulated businesses-notably telephone companies, banks, airlines and interprovincial carriers-as well as all interprovincial and international personal data exchanges for business purposes.

Hypothesis: the federal act will affect business whether it applies to quebec or not
Available choices:
(I) Yes;
(II) It's impossible to say;
(III) No;
(III)