Complex sentence: It chartered Victoria College in 1903, an affiliated junior college of McGill two-year college offering first and second-year courses in arts and science, which was the predecessor institution to the modern University of Victoria.
Split into simpler sentences: It chartered Victoria College in 1903, an affiliated junior college of McGill. It served as a two-year college offering first and second-year courses in arts and science, until it became today's University of Victoria.