New rules for baits (5)
I believe the answer is:
lures
'baits' is the definition.
('lure' can be a synonym of 'bait')
'new rules' is the wordplay.
'new' indicates an anagram.
'rules' with letters rearranged gives 'LURES'.
'for' is the link.
(Other definitions for lures that I've seen before include "Baits or attractions" , "Rules with decoys" , "Tempts or entices" , "Baits, decoys" , "Draws" .)