(a) Each NOX Budget permit will contain, in a format prescribed by the permitting authority, all elements required for a complete NOX Budget permit application under §97.22.

(b) Each NOX Budget permit is deemed to incorporate automatically the definitions of terms under §97.2 and, upon recordation by the Administrator under subpart F or G of this part, every allocation, transfer, or deduction of a NOX allowance to or from the compliance accounts of the NOX Budget units covered by the permit or the overdraft account of the NOX Budget source covered by the permit.