Due to some hard times, my marks for third year weren't the greatest to say the least. Ended up with a 6.80.

Now I had lost hope at getting into Graduate school at MAC however I just read the requirements for the program I want to get into (Neuroscience) and it says: Minimum B+ average in the final year of studies.

So does this mean they will solely look at grades taken in my last year while completely ignoring the rest?

Your best option would be to contact admissions office and check what exactly they mean. But usually, that is what it means: some grad schools will look at your marks from the last 2 years or last year. Double check if you have taken summer or online courses.

As mentioned above I would definitely verify with the department. Nonetheless, I would not get too discouraged. Try and make up for it in your final year. The application process works on a rolling admission, accepting students until they fill a quota making spots competitive.

A word of advice, having a supervisor keen on taking you will help you tremendously and would likely help your third year get overlooked. In other words, start looking and good luck!

If they say that they only look at your final year, I would think you're fine (just make sure you've resolved last years problems for this year)!