Constraint on Universal set of hash functions
Let's plug real numbers into the passage: 

$|\mathscr{H}|$ = 10; 

$m$ (size of hash table) = 100

In the first statement: 

$\frac{|\mathscr{H}|}{m}$ = $\frac{10}{100}$ = 0.1 = the maximum number of hash functions that will cause a collision. (Assuming the count of functions in $\mathscr{H}$ can be represented as decimals for sake of argument.)

The important thing to note here is that the chance of selecting a collision causing hash function is: $\frac{0.1}{|\mathscr{H}|}$ = $\frac{0.1}{10}$ = 1%.

In the second statement:

The argument being made is that the chance of collision "is no more than..":

$\frac{1}{m}$ = $\frac{1}{100}$ = 1% = the chance of generating a hash value $h(key)$ from the set {0, 1..., 99}. AKA the chance of selecting a specific value from 100 values.

Conclusion:

So, from our example, a collection of 10 hash functions that map a given universe of keys into the range {0, 1..., 100 - 1} is said to be a universal collection if: by randomly choosing a hash function, the chance of collision between distinct keys is no more than 1%.