74. Gifts to vest in body corporate

After the incorporation of the trustees of any body or association of persons under this Part, every donation, gift and disposition of land, or any interest in land, lawfully made (but not having actually taken effect) before the incorporation or hereafter lawfully made by deed, will or otherwise to or in favour of the body or association of persons, or the trustees, or otherwise for the purposes thereof, takes effect as if the same had been made to, or in favour of, the incorporated body or otherwise for the like purposes.