Caricature of note housed by international gallery (7)
I believe the answer is:
imitate
'caricature' is the definition.
(I've seen this in another clue)
'note housed by international gallery' is the wordplay.
'note' becomes 'mi' (as in 'do re mi').
'housed by' is an insertion indicator.
'international' becomes 'i' (abbreviation eg in IMF).
'gallery' becomes 'tate' (Tate Modern, Tate Britain etc).
'i'+'tate'='itate'
'mi' put inside 'itate' is 'IMITATE'.
'of' is the link.
(Other definitions for imitate that I've seen before include "I tame it (anag)" , "I ate Tim! (anag.)" , "Follow suit" , "Take as a model" , "'Ape, copy (7)'" .)