From The Collaborative International Dictionary of English v.0.48 [gcide]:
2. To remove or retrench the faults or errors of; to amend; to set right; as, to correct the proof (that is, to mark upon the margin the changes to be made, or to make in the type the changes so marked).
3. To bring back, or attempt to bring back, to propriety in morals; to reprove or punish for faults or deviations from moral rectitude; to chastise; to discipline; as, a child should be corrected for lying.
From WordNet (r) 3.0 (2006) [wn]:
Define.com is a PRIVATE SECTOR NONPROFIT EDUCATIONAL WEBSITE that PROMOTES WORLDWIDE ELECTRONIC DEMOCRACY, OPEN and TRANSPARENT GOVERNMENT and WORLDWIDE BANKING REFORM.
Eye and Pyramid BANKING REFORM CHALLENGE