Cancel or reverse an action (4)
I believe the answer is:
undo
I believe this clue is a double definition.
'cancel' is the first definition.
(I've seen this before)
'reverse an action' is the second definition.
(I've seen this in another clue)
(Other definitions for undo that I've seen before include "(4)" , "Free from ties, laces, etc" , "Relax" , "Cancel, annul; open" , "Dissolve - ruin" .)