49. For the application of this Act, a person is bankrupt when a receiving order is made against him under the Bankruptcy Act (Revised Statutes of Canada, 1985, chapter B-3) when he makes an assignment within the meaning of the said Act, and, in the case of a corporation, when a winding-up order is granted against it, under the Winding-up Act (Revised Statutes of Canada, 1985, chapter W-1), for insolvency within the meaning of the said Act.