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Song of the once penniless lady (3)

Ross

I believe the answer is:

lay

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'song' is the definition.
(poetic term for a song)

I don't understand the rest of the clue.

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(Other definitions for lay that I've seen before include "Put down (in position)" , "Put down (eg, card)" , "Non-clerical, amateur" , "Set down; song" , "Not a religious" .)

I've seen this clue in the Evening Standard.
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