In March 2007 ‘oldtrainee’ had a problem which seems identical to one I have now...
I also had a problem with a timer on a New World Twinline 3001 oven/ Grill.
The timer has a similar (not exact) part number to yours.
The display went blank, and the oven would no longer operate.
By looking at the specification sheet for the timer, it appears the models vary chiefly on the series resistors installed in the mains supply. On the New World, the mains power goes through a 5.6K resistor both on the live and Neutral, making a total mains series resistance of 11.2K. Newer models presumably consume less power so need different series resistors.
Anyway, I managed to fix my timer. There was a relay, three resistors, a zero-ohm link, an ASIC (Application-specific integrated circuit) chip and an electrolytic capacitor.
Electrolytic capacitors tend to 'dry' over time. In other words, they wear out. The relay is usually in one state and not subject to wear. The resistors checked out OK with an ohmmeter. ASIC semiconductor chips tend to be very reliable. They only fail in times of surge etc, and the mains series resistors would definitely prevent that! This left prime suspect #1. The electrolytic capacitor.
The capacitor on the board was a 220uF 25V radial 125 centigrade electrolytic. These are extremely common components. Any radial electrolytic of 220uF and equal or greater than 25v, and with adequate temperature endurance will do.
I couldn't find anything over 85 centigrade endurance in my electronics box. Bearing in mind my cooker has a cooling fan, and the panel never feels hot, I took the chance on my 85 centigrade capacitor. Rated 220uF 63v.
De-soldered the original capacitor, and making sure I have the polarity correct, soldered the new one in. Polished the display, and all working like new!
I planned that if this did not fix the timer, I would short the relay connections to the timer.
Hope this helps!
Nick.