Better than fair punishment (4)

I believe the answer is:

fine

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'punishment' is the definition.
(fine is a kind of punishment)

I cannot understand how the rest of the clue works.

(Other definitions for fine that I've seen before include "Super" , "Sheer or excellent" , "musical ending" , "Suitable" , "Capital; penalty" .)

I've seen this clue in the Evening Standard.

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