In the event the holder of a Ryan Act teaching or services credential, granted in accordance with the Teacher Preparation Law of 1970, fails to meet renewal or reissuance requirements specified by the Commission because of illness of the applicant or immediate family, military service, or other serious reasons, the holder may petition the Commission for a new preliminary, postponement, emergency, or clear credential. The issuance shall be within the discretion of the Commission after it has given due consideration to the circumstances set forth in the petition.