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If the Legion pay a monetary deposit, it will need protecting in the usual way. They would be named as a “relevant person” on the prescribed information.
If however, they are giving a paper deposit that can be claimed on should a default occur, then you would carry on using the no deposit agreement. Such a bond is more akin to a guarantor but to a specified amount.
If you have got a guarantor (which we normally suggest should be a homeowner), you don’t have to take a deposit. With our own personal properties, we don’t take deposits at all and just rely on the guarantor should there be a default. However, we do take an admin fee at the moment so this policy may have to be thought about again when tenant fees are banned. We may go back to deposits from then.