Making or possessing instruments or materials for forging or counterfeiting currency notes or bank-notes
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Summary
Anyone who makes, helps make, buys, sells, disposes of, or possesses any machinery, instrument or material knowing or believing it will be used to forge or counterfeit currency-notes or bank-notes is punishable. The penalty is life imprisonment, or imprisonment for up to ten years, and a fine.
Example
Ravi runs a small print shop and keeps a press and plates he knows will be used to produce fake bank-notes. If police seize those items, Ravi can be punished with life imprisonment or imprisonment up to ten years, and be ordered to pay a fine.
Bare Act
Enacted textWhoever makes, or performs any part of the process of making, or buys of sells or disposes of, or has in his possession, any machinery, instrument of material for the purpose of being used, or knowing or having reason to believe that it is intended to be used, for forging or counterfeiting any currency-note or bank-note, shall be punished with 1 *imprisonment for life, or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.
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