Well… it's done!
No machine tools were harmed in the wiring of my switch box.
The overload has been adjusted to 2 amps and the 0 volt cut out works.
The wiring confused me due to the fact that someone had connected the coil for remote switching. My brother in law worked through it with me last night and today I connected it up. I now have a safer workshop.
Thankyou guys for your input..