Artefact of Catholic priest being held? (5)
I believe the answer is:
relic
'artefact' is the definition.
(relic is a kind of artefact)
'catholic priest being held?' is the wordplay.
'catholic' becomes 'rc' (I've seen this in other clues).
'priest' becomes 'eli' (I've seen this before).
'being held?' is an insertion indicator.
'rc' placed around 'eli' is 'RELIC'.
'of' acts as a link.
(Other definitions for relic that I've seen before include "Keepsake, of a saint say" , "Object of historical interest" , "(Holy) remains" , "Object of historic interest" , "Surviving artefact" .)