74.3.Where a draft by-law is adopted by the city council or by a borough council following the approval of a draft amendment by the executive committee or the borough council and the holding of a public consultation meeting on the draft amendment in accordance with section 74.1, the draft by-law need not be submitted for public consultation as required under sections 125 to 127 of the Act respecting land use planning and development (chapter A-19.1) and, if the draft by-law contains a provision making it a by-law subject to approval by way of referendum, it is considered to be the second draft by-law referred to in section 128 of that Act.