bozo question about universal bits

[Firehorse]

i hve just ordered one for my neddy. most of the pics show the small ring to be the top ring, but have also seen several other pics with the small ring at the bottom. which is the correct way up for this bit pls?

 

[Roody2]

I would go for the small ring at the top and the larger ring at the bottom - only because the cheek pieces are normally narrower leather than the reins so they would fit better in the smaller ring.
I think the main thing is to get the leather curb in the right place.