Margaret may respond to this link! (3)

I believe the answer is:

peg

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'margaret' is the definition.
(nickname for someone called Margaret)

I don't understand the rest of the clue.

(Other definitions for peg that I've seen before include "Wire tensioner" , "Wooden or plastic pin for hanging clothes" , "Small dowel" , "Clip for hanging washing" , "Member" .)

I've seen this clue in The Irish Times.

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