in reply to Re^12: hex code passed from command line is interpreted literally in substitution
in thread hex code passed from command line is interpreted literally in substitution

Say
$arg1 = '//; system( ... ); #'; $arg2 = '1234;

then

eval "s/$arg_1/$arg_2/";

becomes

eval 's///; system( ... ); #/1234/';

The # causes the last bit to be a comment. Not necessary, apparently.