Right to issue pay (5)
I believe the answer is:
remit
'pay' is the definition.
(remitting is a kind of paying)
'right to issue' is the wordplay.
'right' becomes 'r' (common abbreviation).
'to issue' becomes 'emit' (I've seen this before).
'r'+'emit'='REMIT'
(Other definitions for remit that I've seen before include "Desist from" , "Cancel - terms of reference" , "Maybe suspend" , "forward" , "Area(s) of responsibility or to be dealt with" .)