Provide new gear as compensation (7)
I believe the answer is:
redress
'compensation' is the definition.
(I know that redress is a type of compensation)
'provide new gear' is the wordplay.
'provide new' becomes 're' (I can't justify this - if you can you should give a lot more credence to this answer).
'gear' becomes 'dress' (both can mean clothing).
're'+'dress'='REDRESS'
'as' acts as a link.
Can you help me to learn more?
(Other definitions for redress that I've seen before include "Make amends for" , "set things right" , "Correct" , "Get back into gear" , "Put right" .)