I don't really like the way this provision is written as it is more confusing than it needs to be. Take a look at the commentary on this section. Specifically, they point us towards equation C-H1-5a (which is a revised form of H1-1a) and C-H1-5b (which is a revised form of H1-1b).
C-H1-5a:
Pu/Pn + 8/9*(Mu/Mn) < 1.0
Check this equation once with Pn based on weak axis buckling and Mn based on weak axis bending.
Check it again with Pn based on strong axis buckling and Mn based on strong axis bending (using a bending unbraced length of 0).
Finally, you check equation H1-3 for weak axis buckling combined with strong axis bending where Mn is based on LTB.
The Canadian code has provisions similar to this, I believe. It's a little more clear in the CSA code, but still a little goofy. Personally, I prefer the simplicity of H1-1 without the need to invoke H1-3.