Just to stay on track here...
People are discussing two seperate things, the SECU committee and general parliment debate/voting.
To the best of my knowledge (so anyone better informed feel free to correct me)- the SECU (committee) has the option of taking up study of the bill (C-21), if they decline to do so then it can go back to Parliament for readings/voting after 30 sitting days. Or they can actively vote to not study it and it gets kicked back instantly. They, in themselves (I believe, but please confirm) don't have the power to declare an immediate freeze on transfers (since they do not have an in place law), that would have to be declared under an OIC or an amendment to existing law (not sure if the minister can just 'declare it so').
In parliament the bill has to come back from committee prior to final vote, then has to be voted and passed in the senate, and then signed into law and published.
Its not an instantaneous thing, but it can be run thru quickly with focused political willpower. Will it go thru parliment? Of course, between Justin and Jagmeet they have the votes. Will it go through the senate? Likely, but thats a different system, and they tend to avoid rubber stamping bills without lengthy reviews, because they want to be seen as useful and keep their $200k/year 'jobs'...
TLDR version- govt will take a bit of time to get everything passed and signed. Reading the tea leaves- it will eventually pass, maybe the Cons could neuter it a bit.
The cons have a leadership contest ongoing, nows the time to press the contenders to commit to repealing it when they next get on power. Worked for the long gun reg...