Complex sentence: It was originally planned to be cable-hauled, but the company originally contracted to supply cable-haulage technology went bankrupt, the railway company's Parlimentary Act prohibited the use of steam power.
Split into simpler sentences: It was originally planned to be cable-hauled, but the company originally contracted to supply cable-haulage technology went bankrupt. The railway company's Parlimentary Act also prohibited the use of steam power.