In entertaining an application under paragraph 4 of this Schedule, or any appeal under F1paragraph 5 of this Schedule, the appropriate agency or as the case may be the minister concerned with water resources shall, in coming to a decision, apply the principles which would have been applied if the application or the appeal had been an application for a licence under Part IV of the M1Water Resources Act 1963, or an appeal against a refusal of such a licence, as the case may be.