The version I just read (undated) requires roped off areas according to ability groups (nonswimmer, beginner, and swimmer), and nothing over 12 feet deep is permitted, which is how I remember it as a former BSA Lifeguard Counselor. So this appears to be a modification to allow depths greater than 12 feet as long as PFD are worn.
This would apply at the beach, as well, for a Unit activity.