Warning I am not an Electrician and it is illegal in Australia to do your own electrical wiring.
Assuming this is the batten holder or light fitting.
The L Terminal stands for Loop it is not connected to anything it's purpose is to connect multiple wires together in this case the Active (Hot) wires.
The Terminals on the sides which had the Black and White/Brown? wires are the live terminals they can have either the Neutral or Active (Hot) wires and the last Terminal is the Earth Terminal.
The Colours of the wires would be as follows Black is the Neutral wire (sometimes Blue)
Red is the Active or Hot wire (Sometimes Brown) and the White (brownish?) wire is the Switched Active (Hot).