OK, found out a couple of things. In my cPanel I found out that the path to Perl is somewhat different than the path noted in the file. I changed it to what it should be according to the cPanel and ended with the same error message. The version of Perl is 5.8.8 in case that could be the cause. I have also found a list of installed perl modules so if you can tell me where to look for the required modules perhaps I will find out that a missing module is the culprit.

Lastly, the error log found on the server shows the following:

20181130T100029: www.domain.com/cgi-bin/weblinks/admin/nph-build.cgi Can't exec /usr/local/bin at /home/users/web/b105/ipw.bonanifa/public_html/cgi-bin/weblinks/admin/nph-build.cgi line 1.
Please note that I have changed the /usr/local/bin to their prescribed /usr/bin/perl as stated online.