The City Planning Commission may authorize the Director of Planning to approve or disapprove for the Commission any ordinance, order or resolution or modification thereto which is subject to the provisions of Sections 555 or 558. In exercising that authority, the Director must make the same findings as would have been required for the City Planning Commission to act on the same matter. An action of the Director under this authority shall be subject to the same time limits and shall have the same effect as if the City Planning Commission had acted directly.