diff --git a/bsip-0040.md b/bsip-0040.md
index 43562a9..13ff0b2 100644
--- a/bsip-0040.md
+++ b/bsip-0040.md
@@ -102,7 +102,6 @@ Following cases must hold for a restriction:
 
 Note: 
 - If required a field can be added that stores the assumed type of the argument
-- If arguments are given by the operation that have no restriction they can have any value
 
 In the following we list possible `restriction`s. Mentioning `argument value` in the text below refers to the value of 
 the argument of the operation specified by `argument` of a restriction. 
@@ -152,14 +151,14 @@ custom active authority = {
     operation_id: transfer,
     authority: {
        threshold: 1
-       key_auth: [K, 1]
+       key_auth: [key K, 1]
        account_auth: []
     },
-    asserts: [
+    restrictions: [
         {
             function: any,
             argument: to,
-            data: [B]
+            data: [account B]
         } // this restricts the argument identified with "to"
     ]
 }
@@ -168,6 +167,85 @@ That has the consquence now that a transfer transaction sending funds away from
 
 Note: This is just an illustration of a possible serialization, not a specification of the serialized format.
 
+#### Example: Either or
+Assume account A, B and C and asset X and asset Y. Furthermore A has a custom active authority in the following way:
+```
+custom active authority = {
+    valid_from: 7.7.2018 00:00
+    valid_to: 8.7.2018 00:00
+    operation_id: transfer,
+    authority: {
+       threshold: 1
+       key_auth: []
+       account_auth: [account B, 1]
+    },
+    restrictions: cut_out
+}
+
+cut_out =[  
+    {
+        function: logical,
+        argument: OR,
+        data: [ either_list, or_list ]
+    }
+]
+    
+either_list =
+	[  
+	    {
+            function: attribute_assert,
+		    argument: amount,
+		    data: [  
+		       {  
+			      function: lt,
+			      argument: amount,
+			      data: 10000
+		       },
+		       {  
+			      function: any,
+			      argument: asset_id,
+			      data: [ asset X ]
+		       }
+		    ]
+	    },
+	    {  
+		    function: any,
+		    argument: to,
+		    data: [ account C ]
+	    }
+	]
+	    
+or_list =
+	[  
+	    {
+            function: attribute_assert,
+		    argument: amount,
+		    data: [  
+		       {  
+			      function: le,
+			      argument: amount,
+			      data: 20000
+		       },
+		       {  
+			      function: any,
+			      argument: asset_id,
+			      data: [ asset Y ]
+		       }
+		    ]
+	    },
+	    {  
+		    function: any,
+		    argument: to,
+		    data: [ account C ]
+	    }
+	]
+```
+That has the consquence now that a transfer transaction sending funds away from A can be signed with with active authority of account B if 
+- it sends less than 10000 of asset X to account C
+- it sends less than or equal to 20000 of asset Y to account C
+
+Note: This is just an illustration of a possible serialization, not a specification of the serialized format.
+
 ### Outline of handling incoming transactions
  
 When a signed transaction arrives and before the backend evaluates if all necessary authorities are present through the signatures, do the following: