Section 262: Prohibition of bringing prohibited currency into use

1) No person shall bring into use, exchange or possess a currency in use but circulation of which has been banned by order of the competent authority under law, in violation of such order.

2) A person who commits, or causes to be committed, the offence referred to in sub-section (1) shall be liable to a sentence of imprisonment for a term not exceeding one year or a fine not exceeding ten thousand rupees or both the sentences, and the currency so brought into use, exchanged or possessed shall also be forfeited.