gistfile1.aw

<?php
/**
 * Disable access to 'Permissions' page.
 *
 * Even the role has 'administer permissions' enabled, users will not be able to
 * access to 'Permissions' page, but be able to use all other functionality 
 * this permission grants them. i.e. (de-)assigning roles to selected users.
 */
function hook_menu_alter(&$items) {
  global $user;

  if ($user->uid != 1) {
    $items['admin/user/permissions']['access callback'] = FALSE;
  }
}