New, but there's a hole in it! (5)

I believe the answer is:

green

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'new' is the definition.
(I've seen this in another clue)

I don't understand the rest of the clue.

(Other definitions for green that I've seen before include "one may be putting on" , "Verdant; naive" , "Area around a golf hole" , "Grassy enclosure, in a village say" , "conservationist" .)

I've seen this clue in the Evening Standard.

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