Can I live/work in Ireland?

I have a rather unique question to ask regarding my British passport. To cut a long story short I naturalised as a British citizen in the Channel Islands and because I don't have any family ties to the UK I have the following stamp in my passport:

holder is not entitled to benefit from European Community Provisions
relating to employment or establishment

What this means is that I can't live/work in the EU unless I spend 5yrs in the UK first (this removes this restriction). Technically I have what is called Islander Status:

http://www.gov.gg/article/2822/What-is-islander-status

The above makes sense to me but there is one question I am battling to find an answer to. I may at some stage want to live/work in the Republic of Ireland (NOT Northern Island).

So the question is, can I live/work in the Republic of Ireland despite this stamp in my passport?

After hours of research online I think the answer is yes because Ireland, the UK, Isle of Man and the Channel Islands form part of the Common Travel Area (CTA).

So can I live/work in Ireland or do I need a work permit?

I've contacted the Irish immigration officials but they haven't come back to me yet and its been months!

There shouldn't be problem for you living and workng in the ROI due to the provisions in the CTA, you will be classed as a British citizen only and not EU citizen, British citizens are exempted from immigration control in Ireland regardless of EU law.