Old satchel that is split (5)
I believe the answer is:
scrip
'old satchel that is split' is the definition.
Although both the answer and definition are singular nouns, I can't understand how one could define the other.
This is the entire clue.
Can you help me to learn more?
(Other definitions for scrip that I've seen before include "bag" , "Shares allocated in bonus issue" , "(Preliminary) share certificates" , "extra shares" , "Share certificate" .)