Complex sentence: The election of a new king was postponed for a year due to the disagreement and in the meanwhile the Council of the Realm would rule and the bishops decide what could be preached in their respective dioceses.
Split into simpler sentences: The election of a new king was postponed for a year due to the disagreement. In the mean time, the Council of the Realm would rule, allowing the bishops to decide what could be preached in their respective dioceses.