Sid sets out but doesn't go on (7)

I believe the answer is:

desists

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'but doesn't go on' is the definition.
I can't tell whether this definition defines the answer.

'sid sets out' is the wordplay.
'out' indicates an anagram (out can mean wrong or inaccurate).
'sid'+'sets'='sidsets'
'sidsets' anagrammed gives 'DESISTS'.

Can you help me to learn more?

(Other definitions for desists that I've seen before include "Stops, refrains from" , "Ceases" .)

I've seen this clue in The Globe and Mail.

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