Fake punt then pass?

[bbeagle]

Don't the players on the kicking team who run downfield during a punt get hit/blocked/jostled all the way down the field? Many times its 2 defense to 1 offensive guy getting 'murdered'.....

What if a team on, say, 4th and 20, used this to their advantage by starting the play as a punt play, but then threw towards a 'receiver' being covered this way? Shouldn't they get a 5 yard first-down holding penalty?

[Bwest]

I believe there is a specific rule exemption for this scenario.

[APG]

Rule 8, Section 4, Article 7...the last part addresses this:

If a team presents an apparent punting formation, defensive acts that normally constitute illegal contact (chuck beyond five yards, etc.) are permitted, provided that the acts do not constitute defensive holding.

Rule 8, Section 5, Article 3, Note 3 addresses PI:

Note 3: Whenever a team presents an apparent punting formation and until the ball is kicked, defensive acts that normally constitute pass interference are permitted against the end man on the line of scrimmage, or against an eligible receiver behind the line of scrimmage who is aligned or in motion more than one yard outside the end man on the line, provided that the acts do not constitute illegal holding. Defensive holding, such as tackling a receiver, still can be called and result in a five-yard penalty from the previous spot, if accepted. Offensive pass interference rules still apply.