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If a councillor resigns, can they immediately take up the role of Clerk and RFO and does this mean they will be unpaid for the next 12 months?

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Yes. As soon as they resign the role of Councillor, they may take up the role of Clerk/RFO, but they cannot receive any remuneration for the work they undertake for a period of 12 months from the date of resignation.
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