This act applies to a transfer within the scope of s. 710.103 made after October 1, 1985, if:
(1) The transfer purports to have been made under the Florida Gifts to Minors Act (former ss. 710.01-710.10); or
(2) The instrument by which the transfer purports to have been made uses in substance the designation “as custodian under the Uniform Gifts to Minors Act” or “as custodian under the Uniform Transfers to Minors Act” of any other state, and the application of this act is necessary to validate the transfer.