Since J.C. Jacobsen’s first Charter and Deed of Gift of 1876, the Carlsberg Foundation’s charter has been regularly amended. This has been done in response to various decisions and events concerning the foundation’s ownership of Carlsberg A/S, the foundation’s organisation, and the relationship with the foundation’s departments and with the New Carlsberg Foundation: 1888: The Carlsberg Foundation takes over J.C. Jacobsen’s Old Carlsberg Brewery following the brewer’s death. 1902: Carl and Ottilia Jacobsen gift the New Carlsberg Brewery to the Carlsberg Foundation. At the same time, they establish the New Carlsberg Foundation as an independent foundation under the Carlsberg Foundation. 1916: The distribution of the profits from the Carlsberg Breweries between the Carlsberg Foundation and the New Carlsberg Foundation is established. From 1902, the Carlsberg Breweries are run by the Carlsberg Foundation as an independent commercial enterprise. This continues until 1970, when the breweries are merged with The United Breweries A/S. 1970: With the merger, it is resolved that the Carlsberg Foundation should own at least 51 percent of the share capital in The United Breweries A/S. 1987: The United Breweries A/S changes its name to Carlsberg A/S. 1991: The Tuborg Foundation is merged with the Carlsberg Foundation. 2013: The Charter is amended to the effect that the Carlsberg Foundation is now only required to own a stake entitling it to at least 51 percent of the votes in Carlsberg A/S. 2017: The Carlsberg Foundation assumes ownership of the Carlsberg Academy. J.C. and Laura Jacobsen’s private home served as an honorary residence from 1911 to 1995. 2018: The charter is clarified to the effect that going forward the Tuborg Foundation’s board constitutes a funding committee, referred to as a board. This makes it clear that it is the Carlsberg Foundation’s board of directors that has funding competence based on recommendations from the funding committee. A number of corrections and amendments are also made to align the charter with the applicable legislation on commercial foundations. 2020: The charter is adjusted in line with an amendment in the New Carlsberg Foundation’s charter reflecting that the New Carlsberg Foundation’s board of directors was expanded from three to five members. 2021: The charter’s provisions regarding consolidation are amended to the effect that the foundation’s board of directors is required to assess each year whether there is a need for consolidation and, if so, the size of the consolidated amount. 2022: The charter is amended to adjust the foundation’s organisation and management, including enabling the possibility of appointing a CEO of the foundation.