Eeerm... yes and partially yes. Lack of fluid will end up not being sufficient for each and every system to operate within seconds. It's not type specific, any hydraulic system (be it installed in aircraft or any other machine) can not work if there's no hydraulic fluid to transmit the pressure.
If you get both hyd tank compartments low level, only hydraulically operated system left will be emer/parking brake, powered by its own hydraulic acumulator. As far as I remember from my TLS sim sessions, as long as you can find 2500m of runway to land on, it's no big deal.