I would guess that the policy was originally written for shady piracy merchants that are at higher risk for fraudulent payments. Now that it's in place, it's easy for a copyright holder to come knocking who wants to license their content in Australia but can't because the Australians are already watching their content on Netflix, who only had the UK rights. It's too late for them to rewrite the policy just to pick up a few hundred dollars in VPN buyers' transaction fees without angering deep-pocketed opposition.