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In FIBA rules we just had this discussion too. the outcome was this:
If a foul is made and called it stops the clock, but the ball stays live. This would mean the horn should not have been blown and be disregarded. So if the foul is commited before the horn as we have here, even if the shot is released after the horn, the basket counts and with 0.2 or something on the clock, a free throw is awarded, if shot misses 2 or 3 FT ofcourse.
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