Legislative body's sub-par elements limiting government bond (8)

I believe the answer is:

ligament

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'bond' is the definition.
(I know that ligament is a type of bond)

I cannot understand how the rest of the clue works.

(Other definitions for ligament that I've seen before include "What may get torn" , "Tissue joining bones or cartilages" , "Band of tissue joining bones" , "Joint connector" , "Fibrous connective tissue" .)

I've seen this clue in The Independent.

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