It holds light receptacle and hammered lead cups (10)
I believe the answer is:
candelabra
'it holds light' is the definition.
(a candelabra holds several candles)
'receptacle and hammered lead cups' is the wordplay.
'receptacle' becomes 'can' (I've seen this in other clues).
'and' means one lot of letters go next to another.
'hammered' indicates anagramming the letters (I've seen this in other clues).
'cups' becomes 'bra' (as in the two cups of a bra).
'lead' anagrammed gives 'dela'.
'can'+'dela'+'bra'='CANDELABRA'
(Other definitions for candelabra that I've seen before include "Branched light holder" , "Branched ornamental lamp holders" , "Holders for several lamps" , "Groups of lights suspended from ceiling" , "Lamp-holders" .)