Overall policy--that person would be available for additional work in the future, yes, whether or not it was the same work in that specific position. They're generally not used for the continuation; it's not a continuation of work issue. If it's a continuation of work issue and the manager deems it goes beyond the three years, that person would be eligible under the policy to be rolled over as an indeterminate employee.
On April 26th, 2010. See this statement in context.