noun
existing law; laws in force
Refers to the current body of law that is in effect, as opposed to proposed or repealed legislation. Common in legal and political contexts.
現行法では、その行為は違法とされている。
Under existing law, that act is considered illegal.
現行法の改正が議論されて
Amendments to the existing laws are being discussed.
施行 means 'enforcement' or 'coming into effect' of a law; 現行法 describes the law that is already in effect.
Compound of 現行 (genkō, 'current, existing') and 法 (hō, 'law'). The reading is straightforward on'yomi.