(1) A person who has in his or her custody or under his or her control any thing which is, and which he or she knows or believes to be, a counterfeit of a currency note or coin, intending either -
(a) to pass or tender it as genuine, or
(b) to deliver it to another with the intention that that person or any other person shall pass or tender it as genuine,
is guilty of an offence.
(2) A person who, without lawful authority or excuse, has in his or her custody or under his or her control any thing which is, and which he or she knows or believes to be, a counterfeit of a currency note or coin is guilty of an offence.
(3) A person guilty of an offence under this section is liable on conviction on indictment to a fine or imprisonment for a term not exceeding -
(a) in the case of an offence under subsection (1), 10 years, or
(b) in the case of an offence under subsection (2), 5 years,
or both.