Re: distribution panels
If the primary overcurrent protection for the transformer does not exceed 125% of the primary FLA, or next standard size, secondary protection is not required (450.3(b)). Assuming that this is the case we are done with Article 450 as far as overcurrent protection for the transformer is concerned. There is no need to concern ourselves with secondary protection.
Now lets talk about the secondary conductors. If these conductors are ten feet or less in length and are rated not less than the device they supply (a busbar is a device), and not less than the combined computed loads on the circuits they supply, then the conductors comply with 240.21(c)(2)and are permitted to terminate on a busbar. That is providing that the busbars themselves do not require overcurrent protection.
Article 408.16(d) requires lighting and appliance branch circuit panelboards, and some power panelboards, to be protected on the secondary side of the transformer. In either case the panelboard would have ten percent or more of its circuit breakers rated 30 amps or less. If the panelboard in question does not have ten percent or more of it's breakers rated thirty amps or less individual protection is not required. There would then be no limit to the number of "disconnecting means" permitted on the secondary side of the transformer.
For example, a 500KVA 480/208-120Y transformer is supplied by two 600 Kcmil copper conductors per phase protected by an 800 amp circuit breaker. The secondary conductors of the transformer are comprised of four 350 kcmil copper conductors per phase. These conductors are ten feet in length and terminate into a 1,200 amp main lug only distribution board. This panelboard contains twelve 100 amp circuit breakers supplying a combined computed load of 950 amps. The installation complies with the code.