A Complete Waste of Space

I was watching the video "Play of the day: Cat magic" here.....

http://www.afl.com.au/match-centre/2014/1/geel-v-adel

Toward the end when the guy is running down field wide open, just before he kicks the goal he bounces the football off the ground and catches it again while at a full run. (pretty cool)
Are they only allowed to run so far before they have to bounce the ball like in basketball .... or was the guy just being a flashy, cocky jerk?

Yeah man one can only run about 15 meters before bouncing or disposing of it and one can hold it for a little while before a holding the ball penalty is called