Tom, when you say "put the sensor on the other side of the bracket", do you mean on the chainwheel side like this:
There appears to be about 7mm of clearance between the mounting hole and the sensor body:
As long as the outside diameter of your frame's bottom bracket is less than 48mm, you might be able to file
(or grind) away the portion of the bracket that is preventing the bracket from seating correctly on the frame, as indicated in red below:
If you are reasonably good working with metal
(and have access to a hammer and decent vice) it might be possible to remove the sensor from the bracket, flatten the bracket out, scribe a line along the outer edge of the sensor and the outside diameter of the bottom bracket and then rebend it just outside the lines with a much tighter angle which should then fit perfectly.
If you are not overly fussy about your frame, you should be able to radius the edge of the bottom bracket with a file to accommodate the bend in the bracket. if the sensor is mounted below the bottom of the frame, the filed edge would not be seen.
I don't know whether the magnets are supposed to pass along the centre of the sensor, but I have also shown where the magnets are positioned in relation to my sensor.
Alan