No, this law is not placing penalties on the parents. It's placing them on the OS distributors.
If you come to my house and get sufficient proof that my child is having an account in a web service it should not, and you go to the police with it, do you think they would punish me with a fine or anything? (and you don't even need any sort of special authentication technology for "age attestation" to start penalizing that, btw)