विभाषा परेः

Operational rule vidhi

The vocalisation may optionally take place when व्ये preceded by परि takes the affix ल्यप्.

Word by word (padaccheda)

Substitute / term prathamā · ekavacanaLeft context परेः pañcamī · ekavacana

Substitute / term Prathamā (1st case): in operational rules, the substitute or the thing introduced; in definitions, the term or its referent.
Left context Pañcamī (5th case): "after X", the operation applies to what follows (1.1.67 तस्मादित्युत्तरस्य). Also used for limits and sources.

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Full reading

परेः

Pāṇini leaves out words that carry over from earlier sūtras. Expand to see the rule as a reader actually understands it.

Commentary

The vocalisation may optionally take place when व्ये preceded by परि takes the affix ल्यप्।
Thus परिवीय यूपम् or परिव्याय ॥ The augment तुक् presented by 6.1.71 is debarred by 6.4.2 which causes the lengthening of the vowel: since 6.4.2 is subsequent to 6.1.71.

Śrīśa Chandra Vasu, The Ashtadhyayi of Panini (1897), via ashtadhyayi.com.