This was reported in August last year. I'll try to find if/when it will or has been passed, unlike others I wouldn't want to just rely on my common sense. Isn't copyright law fun? Especially as half the lawyers involved in it don't seem to understand it either.
In answer to my own question. I personally would have gone with yes purely on the fact that you can purchase so many different software programs to do it. Seeing how the MPAA/RIAA destroy companies that are even suspected of illegally affecting their business model surely these companies would not be in existence.
Update: Still not passed as
this from last month says.