The Torah Service is only ever performed in shul (synagogue). Blessings are said before and after reading from the Sefer Torah, as well as introductory prayers to the whole Torah service. Before and after this service the scrolls are carried round the shul.
The reading may be done by any able male member of the community, and it is a tradition for a barmitzvah boy to read it on the day he acheives adulthood.
The Torah service is the key part to the coming to shul on Shabbat, or sometimes on festivals. It is a chance for the congregants to be joined together when they hear the word of G-d, which they could do in a study session, but here there is little study (although some rabbis discuss as opposed to give sermons), simply hearing. During the reading of the Torah one must be absolutely silent and follow along with the text.