It is definitely ongoing! The part that refers to it being a ‘single use code’ is hard coded by Student Beans, so unfortunately we cant change that bit which we can appreciate is a bit confusing.
To clarify, you can use the same code until the end of the academic year. In September 2019 you will need to generate a new code for the following academic year. This copy is just above where the code is generated and also in the T&C’s