Statutory Authority. The Borough of Allenhurst Planning Board shall exercise, to the same extent and subject to the same restrictions, all of the powers of a commission established pursuant to N.J.S.A. 40:55D-107 et seq., and as may be amended from time to time. At least one (1) Planning Board member shall meet the qualifications of Class A member as defined by N.J.S.A. 40:55D-107(b) and at least one (1) Planning Board member shall meet the qualifications of a Class B member as defined by N.J.S.A. 40:55D-107(b).