I just noticed that this line of code in the OP:

$value =~ s/<(([^ >]|\n)*)>//g;
[download]

also appears in code that was posted in another recent SoPW thread: How to use tr///. It looks like ApolloOne may have been replying as Anonymonk when posting this sub-reply, which contains the infamous "Matt's scripts" code, which in turn contains this strange regex.

ApolloOne has already been told to stop using Matt's scripts, and has been given a pointer to the NMS CGI scripts to do the job right.

If the person posting the current thread is also trying to patch Matt's scripts (or if this is ApolloOne posting anonymously again), then the correct answer to the question is the same as before: don't bother patching Matt's scripts, because you shouldn't be using that code in the first place.