Stands for religious education awards (10)
I believe the answer is:
represents
'stands for' is the definition.
(representing is a kind of standing for)
'religious education awards' is the wordplay.
'religious education' becomes 'RE' (abbreviation).
'awards' becomes 'presents' ('present' can be a synonym of 'award').
're'+'presents'='REPRESENTS'
(Other definitions for represents that I've seen before include "Portrays" , "Stands for" , "plays" , "shows" .)