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A really nice move.
This legislation also looks at limiting ticket fees retailers can charge.
I'm sure people will complain because it won't be 100% effective and that therefore makes this useless, but that's daft, using that logic we shouldn't bother with any laws, as they can all be broken. We shouldn't just do nothing because a solution isn't flawless.
In the background, the CMA is also currently investigating Ticketmaster for their surge pricing shenanigans. Fingers crossed they rule in a way that puts people first (and if they don't, politicians update the law with surge pricing algorithms in mind).
Good moves are being made here.