What does preclusion mean?

If you are precluded from a program, this means that you are prevented from studying that program for two years, and are also prevented from studying a program within the same discipline.

After that two year gap, you can re-apply for the program but your application will be assessed, along with all other applications, and so it is not guaranteed that a place will be available or that the you will meet the entry requirements.

You are eligible to apply for a different degree, within a different discipline, without waiting the two years.