(1) A local planning authority shall—
(a) before preparing any master plan or local plan, undertake a study of the planning area and, to the extent it considers necessary, of any neighboring area, examining such matters as it considers may be likely to affect the development or redevelopment of the area or the planning of its development or redevelopment; and (b) before altering or replacing any master plan or local plan, undertake, if it thinks fit, a fresh study of the planning area or any part thereof or of a neighboring area, examining the matters referred to in paragraph (a); and
(c) keep under review all matters examined in terms of paragraph (a) or (b).
(2) When examining or reviewing in terms of subsection (1) any matters relating to neighboring area, the local planning authority shall consult with any regional planning council, local planning authority or local authority which has jurisdiction in that area concerning those matters.