"1.3 Note also that “received” means receiving a TV programme as it is being broadcast on TV. It does not include receiving programmes by means of a DVD or the on-demand elements of services such as i-Player."
On-demand elements of iPlayer don't need a license, watching live channels on iPlayer does however. Also the case with non-BBC servies such as ITV Player, 4OD, etc.
Yeah, that was my read of it as well, although honestly that distinction seems like it'd be an enforcement nightmare. Just figured a link to the official policy would be useful to someone.