1014. Power of Court to grant relief in certain cases

(1) If in proceedings for negligence, default, breach of duty or breach of trust against —
(a) a member of a LLP, or
(b) a person employed by a LLP as auditor (whether he is or is not member of the LLP),
it appears to the Court hearing the case that the member or person is or may be liable but that he acted honestly and reasonably, and that having regard to all the circumstances of the case (including those connected with his appointment) he ought fairly to be excused, the Court may relieve him, either wholly or in part, from his liability on such terms as it thinks fit.
(2) If any such member or person has reason to apprehend that a claim will or might be made against him in respect of negligence, default, breach of duty or breach of trust —
(a) he may apply to the Court for relief, and
(b) the Court has the same power to relieve him as it would have had if it had been a Court before which proceedings against him for negligence, default, breach of duty or breach of trust had been brought."