Yes, there is a difference in law.

Section 271 of the Criminal Code already contains two ways of dealing with sexual assaults:
1. by summary conviction with a maximum term of 18 months jail; 
2. by indictment with a maximum term of 10 years jail.

Section 272 makes sexual assault with a weapon or causing bodily harm a separate offence with a maximum term of 14 years jail.

Taking lesser assaults out of the Criminal Code altogether (and putting them in the Human Rights Codes, for example) would likely result in:
(a) no prison time, 
(b) 'prosecution' by individuals, not by the state, and 
(c) decisions on a 'more likely than not' basis, rather than 'beyond a reasonable doubt'.