Student visas have work limitations of 40 hours per fortnight. Is this different to Industry work placement?

Yes it is different!  A condition on your student visa relates to 40 hours of work per fortnight.  However, there are some programs that require you to undertake work in Industry as a part of your program.  Eg: Hairdressing and Commercial Cookery.  The International Services Unit can provide you with a letter to give to your employer that will give you permission to work additional to the visa limitation.