Pass time after stick-up (5)
I believe the answer is:
enact
'pass' is the definition.
(I know that pass is a more specific form of the action enact)
'time after stick-up' is the wordplay.
'time' becomes 't' (abbreviation).
'after' means one lot of letters go next to another.
'stick' becomes 'cane' (cane is a kind of stick).
'up' shows that the letters should be reversed in order (in down clue: letters go upwards).
'cane' back-to-front is 'enac'.
't' put after 'enac' is 'ENACT'.
(Other definitions for enact that I've seen before include "Ordain" , "Put into practice" , "Pass into law" , "Make intoi law or perform a play" , "get into law" .)