Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 234

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 6
Chunk 234
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 Monitoring Committee convenes for meetings in accordance with our needs, but in any event at least twice per year.
Internal Auditor
 
Under the Companies Law, the board of directors of an Israeli public company must appoint an internal auditor recommended by the audit committee and nominated by the board of directors. An internal auditor may not be:

•   a person (or a relative of a person) who holds more than 5% of the company’s
                                      shares;                                   
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•   a person (or a relative of a person) who has the power to appoint a director or the
                              general manager of the company;                          
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•   an executive officer or director of the company (or a relative thereof); or
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•   a member of the company’s independent accounting firm.
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The role of the internal auditor is to examine, among other things, our compliance with applicable law and orderly business procedures. The audit committee is required to oversee the activities and to assess the performance of the internal auditor as well as to approve the internal auditor’s work plan. Our internal auditor is Tali Yaron Adv. (LLB, LLM), a director at Deloitte Israel.
 
Fiduciary Duties and Approval of Related Party Transactions under Israeli Law
 
Fiduciary duties of office holders
 
The Companies Law imposes a duty of care and a duty of loyalty on all office holders of a company. The duty of care of an office holder is based on the duty of care set forth in connection with the tort of negligence under the Israeli Torts Ordinance (New Version) 5728-1968. This duty of care requires an office holder to act with the degree of care with which a reasonable office holder in the same position would have acted under the same circumstances.
 
The duty of care includes a duty to use reasonable means, in light of the circumstances, to obtain:
 

•   information on the advisability of a given action brought for his or her approval
                    or performed by virtue of his or her position; and               
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•   all other important information pertaining to these actions.
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The duty of loyalty requires an office holder to act in good faith and for the benefit of the company, and includes the duty to:
 

•   refrain from any act involving a conflict of interest between the performance of his
       or her duties in the company and his or her other duties or personal affairs;    
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•   refrain from any activity that is competitive with the business of