Application for instream appropriation; approval; when.

An application for an instream appropriation shall be approved by the Chief Water Officer if he or she finds that: (1) In order to allow for future beneficial uses, there is unappropriated water available to provide the approved instream flow rate at least twenty percent of the time during the period requested; (2) The appropriation is necessary to maintain the existing recreational uses or needs of existing fish and wildlife species; (3) The appropriation will not interfere with any senior surface water appropriation; (4) The rate and timing of the flow is the minimum necessary to maintain the existing recreational uses or needs of existing fish and wildlife species; and (5) The application is in the public interest. The application may be granted for a rate of flow that is less than that requested by the applicant or for a shorter period of time than requested by the applicant.