Hold cutting tool (8)
I believe the answer is:
scissors
This clue is a double definition.
'hold' is the first definition.
(scissors is a kind of hold)
'cutting tool' is the second definition.
(scissors is a kind of cutting tool)
(Other definitions for scissors that I've seen before include "Paper/cloth cutters" , "Cross sis with two-bladed implement" , "Paper/fabric cutters" , "Cutting device with two long blades" , "Cutting instrument made of two joined blades with handles" .)