What does the cryptic crossword clue "Elastic band held by agent (7)" mean?

The definition is "agent". The wordplay uses charade, container. RING (synonym of "band") + SPY (synonym of "agent") [container: "held"]; definition: "Elastic" The answer is SPRINGY.

Elastic band held by agent (7)

Guardian Cryptic #21872 | 17 Across | 2000-04-14 flower

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