Old or ageing (7)
I believe the answer is:
elderly
I believe this clue is a double definition.
'old' is the first definition.
(elderly means old or aged)
'ageing' is the second definition.
(I've seen this before)
(Other definitions for elderly that I've seen before include "like a rich attorney's ugly daughter" , "... or not of tender years" , "Mature" , "Rather old" , "Somewhat old" .)