Receipt may repeatedly frustrate (11)

I believe the answer is:

counterfoil

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'receipt' is the definition.
(thesaurus)

'repeatedly frustrate' is the wordplay.
'repeatedly' becomes 'counter' (I can't explain this - if you can you should give a lot more credence to this answer).
'frustrate' becomes 'foil' (synonyms).
'counter'+'foil'='COUNTERFOIL'

'may' acts as a link.

Can you help me to learn more?

(Other definitions for counterfoil that I've seen before include "Chequebook stub" , "in possession of purchaser" , "Record slip for cheque" , "Record kept" , "part of one cheque" .)

I've seen this clue in The Daily Express.

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