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Noun: ring fence
  1. A fence completely enclosing an area of land; a barrier
Verb: ring-fence  'ring,fens
Usage: Brit
  1. Guarantee that funds or an investment will be spent only for a particular purpose
    "The ring-fence serves as an auxiliary leading into the churn"

Derived forms: ring-fencing, ring-fences, ring-fenced, ring fences

Encyclopedia: Ring fence