Section 48Sec./Art. 48

Penalties. - Any person who violates any of the provisions of this Act, or the rules and regulations promulgated by the Commission under authority hereof, or any person who, in a registration statement, notice, or Plan filed under this Act, makes any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, shall, upon conviction, suffer a fine of not less than Fifty thousand pesos (P50,000.00) nor more than Five million pesos (P5,000.00) or imprisonment of not less than six (6) years and one (1) day nor more than twenty-one (21) years, or both in the discretion of the court.

If the offender is corporation, partnership or association or other juridical entity, the penalty may in the discretion of the court be imposed upon such juridical entity upon the officer or officers of the corporation, partnership, association or entity responsible fro the violation, and if such officer is an alien, he shall in addition to the penalties prescription prescribed, be deported without further proceedings after service of sentence.

ARTICLE VIII

MISCELLANEOUS PROVISIONS