Fastener (alternate lace) cuts over newly (6)

I believe the answer is:

velcro

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'fastener' is the definition.
(I know that Velcro is a type of fastener)

I can't explain the rest of the clue.

(Other definitions for velcro that I've seen before include "Modern fastening material in clover" , "Modern cloth fastener with two strips pressed together" , "Fastener for clothes with two strips pressed together" , "Fastening tape" , "secure bond" .)

I've seen this clue in the Sydney Morning Herald.

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