Section 7. Penalty.— Any violation of this Act shall be punished with a fine of not less than fifty thousand pesos (?50,000.00) but not more than five hundred thousand pesos (?500,000.00), or imprisonment of not less than three (3) months but not more than two (2) years, or both, at the discretion of the court. If the offense is committed by a corporation, trust, firm, partnership or association or other entity, the penalty shall be imposed upon the guilty officer or officers of such corporation, trust, firm, partnership or association or entity.