Be thou instructed; rather, Let thyself be corrected (Authorized Version misses the sense, a very important one, of the conjugation, which is Nifal tolerativum (comp. Psalms 2:10; Isaiah 53:12). The phrase equivalent to "receive correction" (Jeremiah 2:30; Jeremiah 5:3), and means to accept the warning conveyed in the Divine chastisement.
Lest my soul, etc.; rather, lest my soul be rent from thee (Authorized Version renders the same verb in Ezekiel 23:17, "be alienated").