Bachelor of Theology Admission Reqs. at South African Theological Seminary (SATS)

Perusing the SATS website, I came across the following admission requirements for the Bachelor of Theology degree (any one of the three):

1. National Senior Certificate as certified by Umalusi, with an achievement rating of 4 (50% - 59%) or better in four recognised NSC 20-credit courses from the designated list in the Minimum Admission Requirements for Higher Certificate, Diploma and Bachelor's Degree Programmes requiring a National Senior Certificate, Government Gazette, Vol. 482, No. 27961, 18 August 2005. Applicants with different qualifications may only be admitted if they are judged equivalent by the designated equivalence-setting bodies. Alternatively a Higher Certificate or Advanced Certificate in a cognate field will satisfy the minimum requirement.
2. A tertiary qualification at an accredited institution registered by the Department of Education.
3. A tertiary qualification at a foreign institution accredited by a recognised accrediting body or by the institution's national government.

Am I reading this correctly by assuming that they are effectively asking for a pre-existing college or university degree for enrollment in the Bachelor of Theology program?

If so, is this common? I thought a Bachelor Degree was the first degree one would work toward after completing one's secondary education.

Thanks for any insights any of you can offer!

- Ahi