I disagree, the law does provide these exceptions but I (and presumably the author) don't find these exceptions to be comprehensive enough to render the unqualified statement of the author "out of context".

How is a person supposed to prove that their views are "fair and accurate" or a "fair comment" and a "genuine belief"? These are highly subjective, and none of them helped Andrew Bolt, a reporter who was sued under these laws.

Note that you won't even grant that the author is quoting the law in good faith. How is a person supposed to show that their "racist" views are held in good faith?