Busy cop hasn't missed bus like Toady (9)

I believe the answer is:
sycophant
'toady' is the definition.
(I know that toady can be written as sycophant)
'busy cop hasn't missed bus like' is the wordplay.
I cannot quite understand how this works, but
'busy' could be 'cop' (I've seen this before) and 'cop' is present in the answer.
'like' could be 'y' (similar in meaning) and 'y' is located in the answer.
The remaining letters 'shant' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for sycophant that I've seen before include "obsequious one" , "Austen's Mr Collins?" , "old informer" , "Crawler, toady" , "receiving ultimate in flattery from one such?" .)
