Bandwidth Controller - when is packet transmitted?

Hi there, trying to understand the bandwidth controller feature. It' s explained that all attached policies must allow the packet before it will be transmitted. Is this a reference to hitting the Maximum Rate on the policy? Does this mean that the traffic through the static policy on the v/s must be less than or equal to the Maximum Rate as well as the Maximum Rates of the policies attached via irule to be transmitted?

Ref doc:

Bandwidth control policies can be static or dynamic. Through the user interface (browser or tmsh command-line utility), when you apply a bandwidth control policy to a virtual server, packet filter, or route domain, you can apply only one policy at a time, and that is a static policy. Using iRules®, you can combine static and dynamic bandwidth control policies up to eight policies on a connection, but only one of the eight policies can be a dynamic policy. A packet is transmitted only when all the attached policies allow it. The system as a whole supports a maximum of 1024 policies.