In England they hand it to the captain automatically, in Italy the captain is the one that starts with the arm band at kick off until he is subbed out. Last season it happened that Chiellini went to give Del Piero the arm band after he came in but the referee did not allow this to happen. I can't remember which match.
I'm surprised no one (not this forum, in general) haven't made a proper translation - or at least one that I could find. DP gets interviewed all the time but this has got to be one of my favs!