1. A fence or barrier that completely encloses an area of land; by extension, any barrier or boundary that isolates or protects
   "The wildlife sanctuary was surrounded by a ring fence to keep poachers out"

1. To protect or isolate funds or an investment, ensuring they are used only for a specific, designated purpose
   "The government ring-fenced the education budget to prevent the money from being diverted to other departments"

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

Encyclopedia: Ring fence