Plain English Meaning
When you fly an instrument approach and then circle around to land on a different runway, this is the lowest altitude you are allowed to fly during that circle. You stay at or above it until you are lined up close enough to descend normally to the runway.
Full Definition
The lowest altitude, expressed in feet above mean sea level (MSL), to which descent is authorized during a circling approach maneuver at the conclusion of an instrument approach procedure. The pilot must remain at or above this altitude until in a position to make a normal descent to the runway using normal maneuvers.
Context Anchor
Seen on and in discussions of - , where a may need to correct published for very .