Spinner reduced when bare above waist (7)

I believe the answer is:

topless

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'spinner reduced when bare above waist' is the definition.
I can't judge whether this defines the answer.

'spinner reduced' is the wordplay.
'spinner' becomes 'top' (a spinning top).
'reduced' becomes 'less' (a reduced amount).
'top'+'less'='TOPLESS'

Can you help me to learn more?

(Other definitions for topless that I've seen before include "Leaving the breasts uncovered" , "As a Page Three girl?" , "Half-naked" , "Wearing no clothing above the waist" , "Without a shirt, vest or bra?" .)

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

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