Flag virtual helper raised (4)

I believe the answer is:

iris

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'flag' is the definition.
(type of iris flower)

I can't explain the rest of the clue.

(Other definitions for iris that I've seen before include "Greek goddess of the rainbow" , "One controlling pupil' s reactions" , "Murdoch in writing" , "In the middle of which pupil is opening" , "plant with showy flowers" .)

I've seen this clue in The Independent.

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