Fish seizing pole or reel, say (5)
I believe the answer is:
dance
'reel say' is the definition.
(reel is a kind of dance)
'fish seizing pole' is the wordplay.
I cannot really see how this works, but
'pole' could be 'n' (abbreviation for North, as in North Pole) and 'n' is present in the answer.
'fish' could be 'dace' (dace is a kind of fish) and 'dace' is present in the leftover letters.
No letters remain.
This explanation may well be incorrect...
'or' acts as a link.
Can you help me to learn more?
(Other definitions for dance that I've seen before include "Ball; hop" , "Flamenco, perhaps" , "Social gathering" , "See 4" , "social function" .)