Room in which daily is invested with award (7)
I believe the answer is:
chamber
'room' is the definition.
(chamber is a kind of room)
'daily is invested with award' is the wordplay.
'daily' becomes 'char' (I've seen this before).
'is invested with' indicates putting letters inside.
'award' becomes 'mbe' (Member of the British Empire).
'char' placed around 'mbe' is 'CHAMBER'.
'in which' acts as a link.
(Other definitions for chamber that I've seen before include "Judge's room" , "Room - part of a legislature" , "Enclosed cavity, part of gun" , "in which to get the bullet?" , "Room where a judge transacts business" .)