(1) Regulations may provide -

(a) for enabling a person to whom benefit is payable to nominate another person to receive that benefit on his or her behalf, subject to such conditions and in such circumstances as are prescribed,

(b) for -

(i) enabling a person to be appointed to exercise, on behalf of a claimant or beneficiary who -

(I) is under 16 years of age, or

(II) is certified by a registered medical practitioner to be a person who is or is likely soon to become unable for the time being to manage his or her own financial affairs,

any right or power otherwise exercisable under this Act by the claimant or beneficiary, and

(ii) subject to such conditions and in such circumstances as are prescribed for assuring the personal welfare of the claimant or beneficiary, authorising a person so appointed to receive and deal with any sum payable by way of benefit on behalf, and for the benefit, of the claimant or beneficiary,