Paid up and is taking possession of the articles (5)

I believe the answer is:

items

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'articles' is the definition.
(I've seen this before)

I don't understand the rest of the clue.

(Other definitions for items that I've seen before include "Entries made by accountant" , "Individual articles" , "separate parts of news bulletin" , "Bits of news" , "Times (anag.)" .)

I've seen this clue in the Evening Standard.

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