Examining body stand out, holding drape at edges (7)

I believe the answer is:

edexcel

'examining body' is the definition.
(Edexcel is an examination board)

'stand out holding drape at edges' is the wordplay.
'stand out' becomes 'excel' (synonyms).
'holding' is an insertion indicator.
'at edges' says to hollow out the word (remove centre letters) (only letters at the edges).
'drape' with its middle removed is 'de'.
'excel' enclosing 'de' is 'EDEXCEL'.

(Another definition for edexcel that I've seen is " Government body".)

I've seen this clue in The Times.

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