In plain words
This teaching, knowledge of the Self, is set out for those whose wrongdoing has been worn away by austerity, in whom peace shines, whose desire has been cut away, and who are filled with longing to be released from becoming. For them it is fit to be attained.
Word for word
This instruction in Self-knowledge is set forth for those whose wrongdoing has been removed through austerities, in whom peace shines, whose desire is severed, and who are filled with longing for release from becoming.