If the provisions of this chapter require additional design exceptions or waivers or create greater deviations from standards for a pending design waiver or design exception, the pending application shall be considered denied, and the Administrative Officer shall so notify the applicant. However, the pending application may be continued, provided that:
(a) The applicant submits within 30 days of the effective date of this chapter an amended application including a statement justifying the waivers or exceptions; and
(b) The Board shall be required to act within 60 days of the effective date of this chapter or within the time limits originally applicable to the pending application, whichever is later.