Making or possessing instrument or materials for forging or counterfeiting currency-notes or bank-notes

Whoever makes, or performs any part of the process of making, or buys or sells or disposes of, or has in his possession, any machinery, instrument or 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 151[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.]