Prior to the adoption of a development regulation, revision or amendment thereto, the Planning Board shall make and transmit to the Township Council, within 35 days after referral, a report, including identification of any provisions in the proposed development regulation, revision or amendment which are inconsistent with the Master Plan and recommendations concerning these inconsistencies and any other matters as the Board deems appropriate. The governing body, when considering the adoption of a development regulation, revision or amendment thereto, shall review the report of the Planning Board and may disapprove or change any recommendation by a vote of a majority of its full authorized membership and shall record in its minutes the reasons for not following such recommendation. Failure of the Planning Board to transmit its report within the thirty-five-day period provided herein shall relieve the governing body from the requirements of this subsection in regard to the proposed development regulation, revisions or amendment thereto referred to the Planning Board.