Crossword Genius

Admitting to having been at fault and relinquishing the seat? (8,9)

Ross

I believe the answer is:

standing corrected

I'm a little stuck... Click here to teach me more about this clue!

'admitting to having been' is the definition.
I can't tell whether this defines the answer.

'at fault and relinquishing the seat?' is the wordplay.
I cannot really see how this works, but
'at' could be 'in' (synonymous in some cases - eg at school, in school) and 'in' is found in the answer.
'and' could be 'n' (common abbreviation for 'and') and 'n' is found in the answer.
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is present in the answer.
This explanation may well be incorrect...

Can you help me to learn more?

I've seen this clue in the Evening Standard.
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