Management helping to hold sledge back (10)

'management' is the definition.
(regulation is a kind of management)

'helping to hold sledge back' is the wordplay.
'helping' becomes 'ration' (a ration is a serving or helping).
'to hold' indicates putting letters inside.
'sledge' becomes 'luge' (luge is a kind of sledge).
'back' shows that the letters should be reversed in order.
'luge' reversed gives 'egul'.
'ration' enclosing 'egul' is 'REGULATION'.