Export Deferral Strikes Again 

Export Deferral Strikes Again 

26109442465_697e280c4d_o-copyIn recent years Ed Vaizey, UK Culture Minister, has used an export ban to fight items of great value and historical significance leaving the UK. One of his interventions helped to recover a ring which had been owned by Jane Austen from X-Factor US winner Kelly Clarkson (and it caused quite a media storm at the time). Now he's using it again to try to keep a 400-year-old drawing by Renaissance master Paolo Veronese in the country. How it works is when a private owner wants to take a work of significant value out of the country the export ban can be put in place, after which there is two months when someone can apply to buy the work (with proof of funds). If the owner turns down the offer, the work will remain in the country for 10 more years. If no one comes forward, then the work simply leaves the country.
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