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The official rules say:
"In a continuous sequence of moves in which only ladies are moved, a particular lady is not permitted to move onto the same square twice after the full board position has been repeated once (even if the lady occupied this square before the position was repeated). This rule is only important in exotic board positions that in real play almost never occur."
This rule relates to some extremely rare positions in which the remaining pieces cannot be captured because each player has a lady which is "trapped" in the opponent's camp (see diagrams 4 & 5 at http://www.abstractgamesmagazine.com/sleeping_beauty.html). These positions are pretty similar to jishogi in Japanese Chess, which occurs when both players have moved their King into the promotion zone, or cannot be prevented from doing so, and the Kings cannot be checkmated.
An alternative rule is to count such games as ending with "no result" (that is not a draw!) and to be replayed with colors reversed. Similar rules exist in the Japanese game of Go and in Aw-li On-nam Ot-tjin.