The Sacrament of Communion is a Sacrament of Healing performed by the Levitical Priesthood, by a Priest and/or Priestess.

And it is expedient that the Church meet together oft to partake bread and wine in remembrance of the Lord Jesus; and the Elder or Priest shall minister it.” –Doctrine of the Saints 2:66

Priests and Priestesses of the Levitical or ministers in the High Priesthood may bless the Sacrament of Communion. They should be dressed in their Garments and the Robes of the Priesthood, as instructed in the Law of the Gospel. They should raise their right hands to the square, in the sign of the Law of Sacrifice, and their left arms should be down, bent to the square with their palms cupped down, over the sacrament.

The following instructions from the Book of Mormon should be followed, with the prayers read or recite verbatim.

Bread

O God, the Eternal Father, we ask thee in the name of thy Son, Jesus Christ, to bless and sanctify this bread to the souls of all those who partake of it; that they may eat in remembrance of the body of thy Son, and witness unto thee, O God, the Eternal Father, that they are willing to take upon them the name of thy Son, and always remember him, and keep his commandments which he hath given them, that they may always have his Spirit to be with them. Amen.” –Moroni 4

Wine/Water

O God, the Eternal Father, we ask thee, in the name of thy Son, Jesus Christ, to bless and sanctify this wine to the souls of all those who drink of it, that they may do it in remembrance of the blood of thy Son, which was shed for them; that they may witness unto thee, O God, the Eternal Father, that they do always remember him, that they may have his Spirit to be with them. Amen.” –Moroni 5

There are other Sacrament prayers in the Latter Day Saint movement, and within Christianity in general. While these prayers are the one’s the Lord has asked us to use, if the Holy Spirit move the Priesthood to use one of these other prayers, they are also acceptable. 

Any officer of the Priesthood may prepare and/or pass the Communion to the congregation, under the direction of the local Pastor it Bishopric. They should wear their Garments and Aprons, as instructed in the Law of Sacrifice. Generally, the Priests and Priestesses are assigned to oversee the communion and would request help a week prior. It is up to the local congregations to work out the specifics.

Preparing or passing the Sacrament of Communion does not require any office of Priesthood, thus a lay member may do it. However, if there are Priesthood holders available, they should prepare and pass to fulfill their duties as ministers of Christ.