Limits are per product, per issue. E.g for the 10 year bond issue 6 (the current one), the max holding is 120k. But the max holding is also 120k or 250k for each previous issue. It is possible to have over 1 million in 10 year bonds alone and then there's the 3 year, 4 year and 5 year products, all of which have had multiple issues in the last few years.
Thanks for that info, never knew that. Going back a few years some people would have done good out of these products and probably missed out by not knowing what you've just told me.