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Does the following statement mean that the 3 point credit is only good for 2 years and after that the credit points will disappear?

"If a Government-approved defensive driving course has been successfully completed prior to accumulating 15 or more points, a 3 point credit is applied to your driving record for a 2-year period."

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Yes, that's what that means. But if you continue reading the article that you referenced, you will see that demerit points themselves also expire after 2 years:

When 2 years have passed from the date of a conviction, the demerit points assessed for that conviction are removed from your driver's record.

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