Final approval shall be granted or denied within forty-five (45) days after submission of a complete application or within such further time as may be consented to by the applicant. Failure of the Planning Board to act within the period prescribed shall constitute final approval and a certificate of the administrative officer as to the failure of the Planning Board to act shall be sufficient in lieu of the written endorsement or other evidence of approval, herein required, and shall be so accepted.
Whenever review or approval of the application by the County Planning Board is required by section 8 of P.L. 1968, c 285 (C.40:27-6.6) the Planning Board shall condition any approval that it grants upon timely receipt of a favorable report on the application by the County Planning Board or approval by the County Planning Board by its failure to report thereon within the required time period.