現行
げんこう · genkou · JLPT N1 · noun
in operation
現 = now + 行 = go/in progress: what is going on right now
現 means now or appear, and 行 means go or in progress. Together 現行 is what is running at present, so it means current or in operation. The compound reads as now plus going.
行 — crossroads pictograph (left 彳 + right 亍)
行 originally pictured a four-way crossroads in oracle bone script, with two paths meeting. From 'road' it extended to 'walk, go, travel,' and then to 'a row, line' or 'business firm' (read háng). The two halves 彳 and 亍 are the split sides of that ancient crossroads.