228.—(1) An employer has become insolvent for the purposes of this Part—
(a)where the employer is an individual, if (but only if) paragraph (2) is satisfied, and
(b)where the employer is a company, if (but only if) paragraph (3) is satisfied.
(2) This paragraph is satisfied in the case of an employer who is an individual if—
(a)he has been adjudged bankrupt or has made a composition or arrangement with his creditors, or
(b)he has died and his estate falls to be administered in accordance with an order under Article 365 of the [1989 NI 19.] Insolvency (Northern Ireland) Order 1989.
(3) This paragraph is satisfied in a case of an employer which is a company—
(a)if a winding up order or an administration order has been made, or a resolution for voluntary winding up has been passed, with respect to the company,
(b)if a receiver or a manager of the company’s undertaking has been duly appointed, or possession has been taken, by or on behalf of the holders of any debentures secured by a floating charge, of any property of the company comprised in or subject to the charge, or
(c)if a voluntary arrangement proposed in the case of the company for the purposes of Part II of the [1989 NI 19.] Insolvency (Northern Ireland) Order 1989 has been approved under that Part.