Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 145

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 145
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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  

  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  

  refrain from any activity that is competitive with the business of the company;  

  refrain from exploiting any business opportunity of the company for the purpose of  

  disclose to the company any information or documents relating to the company’s                    

We may approve an act performed in breach of the duty of loyalty
of an office holder provided that the office holder acted in good faith, the act or its approval does not harm the company, and the office
holder discloses his or her personal interest, as described below.

Disclosure of personal interests of an office holder

The Companies Law requires that an office holder promptly disclose
to the company any personal interest that he or she may have and all related material information or documents relating to any existing
or proposed transaction by the company, and in any event no later than the first meeting of the board of directors at which the transaction
is considered. An office holder is not, however, obliged to disclose a personal interest and related information if the personal interest
of the office holder derives solely from the