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An export bar has been placed on a Rembrandt painting in an effort to allow time to raise £16.5 million to keep it within the UK.

The work, known as Rembrandt Laughing, is said to be a striking example of the Dutch artist’s early work and was one of only a few which he executed on copper plates.

UK Culture Minister Ed Vaizey deferred the grant of an export licence for the painting until at least October 15 to allow a chance for the money to be raised.

The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest advised the deferral because it was of outstanding aesthetic importance and of significance for the study of Dutch painting, particularly Rembrandt’s work in the 1620s.

It is of outstanding aesthetic importance, significant for the study of Dutch painting

The picture – known as a “tronie” – may have been a self-portrait but was painted in 1628 to depict an emotion rather than to be a likeness of a particular person.

Most of Rembrandt’s paintings in UK collections date to after 1631.

Vaizey said: “The UK’s galleries may already have an impressive array of Rembrandts, but nothing from this period of this great artist’s career.

“I hope that my deferral of the export licence will allow time for a buyer to come forward and secure this exquisite painting for the nation, where it can be studied and enjoyed by all.”

The deferral period could potentially be extended to April of next year.