The bill's (very catchy) long-form title is…

A Bill to make provision for and in connection with the regulation by OFCOM of certain internet services; for and in connection with communications offences; and for connected purposes.

…and that's essentially it, it hands the duty of "regulating" certain online content to the UK's Office of Communications (OfCom).

Ofcom Chief Executive Dame Melanie Dawes could barely contain her excitement in a statement to the press:

"Today is a major milestone in the mission to create a safer life online for children and adults in the UK. Everyone at Ofcom feels privileged to be entrusted with this important role, and we're ready to start implementing these new laws."

As always with these things, the bill's text is a challenging and rather dull read, deliberately obscure in its language and difficult to navigate.