Under Regulation 6(1) of The Privacy and Electronic Communications (EC Directive) Regulations 2003, as amended by the 2011 Regulations, "a person shall not store or gain access to information stored, in the terminal equipment of a subscriber or user" unless certain requirements are met.
The question, I think, is whether using our cookies policy template will help you to comply with either of these requirements (it doesn't make much sense to say that the template document complies or does not).
There are many different views upon what should be done to gain consent, and there is little certainty. The ICO has indicated that intrusive cookies will be looked at more carefully than non-intrusive cookies, although the Regulations don't say anything about different types of cookies requiring different types of consent. Many website operators have taken the view that pop-ups with are required to gain consent. Other sites (such as this one) simply have a short cookies statement somewhere on each page, with a link through to a cookies policy or similar document.
I hope this is helpful.