Consider regarding faction taking power (7)
I believe the answer is:
respect
'consider' is the definition.
(respecting is a kind of considering)
'regarding faction taking power' is the wordplay.
'regarding' becomes 're'.
'faction' becomes 'sect' ('sect' can be a synonym of 'faction').
'taking' is an insertion indicator.
'power' becomes 'p'.
'sect' going around 'p' is 'spect'.
're'+'spect'='RESPECT'
(Other definitions for respect that I've seen before include "estimation" , "Sceptre (anag)" , "Deference, obedience" , "Regard, deference" , "Appreciate - consideration" .)