If, in any proceedings under this Part against a person other than a body corporate, it appears to the Court that the person has or may have:
(a) engaged in conduct in contravention of a provision of Part IV; or
(aa) engaged in conduct in contravention of section 60C or 60K; or
(b) engaged in conduct referred to in paragraph 76(1)(b), (c), (d), (e) or (f);
but that the person acted honestly and reasonably and, having regard to all the circumstances of the case, ought fairly to be excused, the Court may relieve the person either wholly or partly from liability to any penalty or damages on such terms as the Court thinks fit.