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Old jokes pulled out of fire perhaps (9)


I believe the answer is:


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'old jokes' is the definition.

I cannot understand how the remainder of the clue works.

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(Other definitions for chestnuts that I've seen before include "Common tree-fruits, sometimes roasted" , "often retold stories" , "horses" , "Tree fruits called conkers - some are edible" .)

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