This traffic sign is displayed on the right-hand kerbside. What does it mean?

You answered correctly. This sign indicates "no stopping" on both sides of it along the kerb—meaning you are not allowed to stop your vehicle either before or after the sign. The crossed lines and arrows in both directions show that the restriction applies on both sides of the sign. You must keep driving without stopping or parking anywhere within this marked area. Knowing this helps you avoid fines and keeps traffic flowing smoothly.