Full of holes, it may well be fishy (3)
I believe the answer is:
net
'fishy' is the definition.
Both the definition and answer are adjectives. Perhaps there's an association between them I don't understand?
'full of holes it may well' is the wordplay.
I cannot quite see how this works, but
'it' could be 't' (abbreviation. e.g. in 'tis) and 't' is found in the answer.
The remaining letters 'ne' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).
'be' acts as a link.
Can you help me to learn more?
(Other definitions for net that I've seen before include "Catch; fine fabric" , "Mesh; profit" , "Catch, ensnare" , "Meshed trap" , "Score a goal" .)