Conservative relaxed with a coxcomb (7)

I believe the answer is:

crested

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'conservative relaxed with a coxcomb' is the definition.
I can't judge whether this defines the answer.

'conservative relaxed' is the wordplay.
'conservative' becomes 'C' (UK political abbreviation).
'relaxed' becomes 'rested' (I've seen this before).
'c'+'rested'='CRESTED'

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(Other definitions for crested that I've seen before include "like some newts" , "With plume on helmet" , "Plumed; reached the top" , "See 8" , "Got to top of hill" .)

I've seen this clue in the Sydney Morning Herald.

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