Provisional registration for trusts and institutions allowed, subject to cancellation after hearing for incomplete or false applications. Where the tax authority is not satisfied on an application for registration of a trust or institution, it may, after affording a reasonable opportunity of being heard, pass a written order rejecting the application and, in specified cases, cancelling its registration; applications made under designated items may be provisionally registered for three years, and applications that are incomplete or contain false or incorrect information are expressly made a ground for adverse action.