Going through the small print, in the third schedule to the bill, I have found out that the 5% figure relates to a share of the party vote not of all votes cast in the election.

The actual text of the bill.

"6 (1) Seats allocated in an electoral district to a party are to be allocated to its candidates in the following order--

(a) qualifying candidates, in order of the votes given for each candidate (largest number of votes first);

(b) other candidates, in the order in which they appear on the party list.

(2) A candidate is a "qualifying candidate" if the number of votes given for the candidate is at least 5% of the number of votes given for the party as determined for the purposes of paragraph 4(2).

(3) As between qualifying candidates with an equal number of votes, seats are to be allocated in the order in which they appear on the party list."

I am not sure that many individual candidates will get 5% of the list vote, because the elector has the choice to vote for a list OR for an individual candidate on the list (which counts as a vote for the list so far as allocation of seats is concerned). I imagine most electors will vote for the list or the lead candidate on it, so it would be quite unusual for one of the lower ranked candidates to reach a personal vote of five per cent of all the votes for the list.