Throw-in 1-2-3-4-5

[PP]

Can you give a team a time-out once the elapsed time of the throw-in has reached four seconds ? The ball is not in play. It is still in the hands of player. Is there a rule that doesn't allow or allows the referee to grant or not to a time-out for this situation ? What is the ruling ? The referee in this case, a semi-final game (senior girls disallowed the time-out because he said that a change of possession was about to occur. So therefore the time-out was not granted!