- Possession of instrument, or material for the purpose of using the same for counterfeiting coin —
Whoever is in possession of any instrument or material, for the purpose of using the same for counterfeiting coin, or knowing or having reason to believe that the same is intended to be used for that purpose, shall be punished with imprisonment of either description for a term which may extend to three years, and shall also be liable to fine; If Indian coin —and if the coin to be counterfeited is Indian coin, shall be punished with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.
CLASSIFICATION OF OFFENCE
Para I: Punishment—Imprisonment for 3 years and fine—Cognizable—Nonbailable—Triable by Magistrate of the first class—Non-compoundable.
Para II: Punishment—Imprisonment for 10 years and fine—Cognizable—Nonbailable—Triable by Court of Session—Non-compoundable.