(1) Whosoever

1.  counterfeits money with the intent that it be brought into circulation as genuine or that such bringing into circulation be facilitated, or alters money with such intent, so that it appears to be of a higher value;

2.  procures or offers for sale counterfeit money with such intent; or

3.  brings counterfeit money which he counterfeited, altered or procured under the provisions of Nos 1 or 2 above into circulation as genuine,

shall be liable to imprisonment of not less than one year.

(2) If the offender acts on a commercial basis or as a member of a gang whose purpose is the continued counterfeiting of money the penalty shall be imprisonment of not less than two years.

(3) In less serious cases under subsection (1) above, the penalty shall be imprisonment from three months to five years, in less serious cases under subsection (2) above, imprisonment from one to ten years.