Complex sentence: The 1992--93 Scottish Challenge Cup was the 3rd season of the competition, which was also known as the B&Q Cup for sponsorship reasons, and was competed for by the 26 clubs in the Scottish Football League Division One and Two.
Split into simpler sentences: The 1992--93 Scottish Challenge Cup was the 3rd staging of the tournament, which was also known as the B&Q Cup, for sponsorship reasons. It was competed for by the 26 clubs in the Scottish Football League Division One and Two.