Strict exchange controls are maintained by the Government through the
Bank of Norway. The granting of an export license carries with it
the obligation on the part of the exporter to relinquish the foreign
exchange to the Bank of Norway as soon as received from the foreign
buyer; a maximum of 60 days is allowed between export and remittance,
although under certain circumstances the Government may grant the
exporter an extension of time. Transfers of capital from Norway require
the prior approval of the Bank of Norway.