A fine venue for a royal meeting (5)

I believe the answer is:

ascot

'venue for a royal meeting' is the definition.
(venue for the Royal Ascot races)

'a fine' is the wordplay.
'fine' becomes 'scot' (historical type of fine).
'a'+'scot'='ASCOT'

(Other definitions for ascot that I've seen before include "Racecourse near Windsor" , "Where ladies wear new hats" , "English racecourse in Berkshire" , "English horse racing venue on coast" , "prestigious meeting" .)

I've seen this clue in The Guardian.

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