Electronic circuits and leads regularly being passed (7)
I believe the answer is:
elapsed
'being passed' is the definition.
(thesaurus)
'electronic circuits and leads regularly' is the wordplay.
'electronic' becomes 'e' (as in e-mail or e-books).
'circuits' becomes 'laps' ('lap' can be a synonym of 'circuit').
'and' says to put letters next to each other.
'regularly' indicates alternate letters (regularly take one letter, leave next etc.).
The alternating letters of 'leads' are 'ed'.
'e'+'laps'+'ed'='ELAPSED'
(Other definitions for elapsed that I've seen before include "slipped away" , "Pleased (anag.)" , "Went by" , "Expired" , "Pleased to have passed" .)