Under voltage protection circuit - HV side

Can't tell whether your circuit is correct as we don't know all of its intended functions.
Regarding the 40V (I assume you mean 40V rms) cut-off, you could perhaps use a resistor divider network plus zener across the bridge rectifier to sense if the rectifier output is above 40* root 2, then control a power mosfet accordingly to apply power to the SMPS.
 
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