If you are unsure about any of these then read on or visit Friv. If you are happy everything is undercontrol the stop readng and have another cup of coffee.
OK so you are still reading then lets lay down a few facts.
This one isnt going to go away it becomes enforced law from the 26th May so if you arent prepared then maybe you should ask for some help. As a recognised and established company who have been building websites for a great many years we can help you get legal and remain legal.