(1) If an application is made for the
establishment of a trust pursuant to Section 316, the Registrar shall
make necessary inquiry into the objects of the trust and the details
of the property proposed for the establishment of the trust, and, if it
appears reasonable to register the trust, register the trust and issue
the trust registration certificate, within a period of thirty-five days
of the making of such application.
(2) If a trust is registered pursuant to sub-section (1), the
trust is deemed to have been established.
(3) Notwithstanding anything contained elsewhere in this
Section, a private trust may be operated even without registration.
Provided that if a person so operates a private trust, the
person shall give information thereof to the concerned Registrar.