A person who is guilty of an offence under this Part is liable, on conviction--
(a) in the case of a corporation--to a penalty not exceeding $10,000,000 for an offence that is committed wilfully or $4,000,000 for an offence that is committed negligently, or
(b) in the case of an individual--to a penalty not exceeding $2,000,000 or 7 years' imprisonment, or both, for an offence that is committed wilfully or $1,000,000 or 4 years' imprisonment, or both, for an offence that is committed negligently.