Penalty.
Section 6
Sec. 6. Penalty. — Any member of the governing board, the chief executive officer and the chief financial officer of a government-owned or controlled corporation who violates any provision of this Act or any of the implementing rules and regulations promulgated thereunder, in addition to other sanctions provided by law, upon conviction thereof, shall suffer the penalty of a fine of not less than Ten thousand pesos (P10,000) but not more than Fifty thousand pesos (P50,000) or imprisonment of not less than one (1) year but not more than three (3) years, or both, at the discretion of the court.