| Where are you located?
Why Class T fuses?
Also you state circuit breaker and fuse. Either or is required.
Where is the unit made?
If located in the US, motors need to be protected by a time delay device due to starting current per Table 430.52 of the NEC 2002 edition, since 5.5 HP is not listed in the code, a fuse can be 175% of nameplate running current, and a breaker can be 250 % higher.
Since the voltage is 240 volt, then Class T fuses are not required, as they are rated for 600 volts. Fuses generally come rated 250 & 600 volt, so Class RK1 should be fine, which is very common.
However, a circuit breaker will be fine also, and only will need a non fused switch at the unit for a service disconnect. And no need to have spare fuses on hand.
So a 5.5 HP motor drawing 24 amps at 240 volts can use a circuit breaker no larger than 60 Amps. If you are certain to use fuses, then a maximum of 50 amp fuse wil work. Do not put too small a fuse, I would not use a 30 amp device to protect 24 amps of motor load,since the starting current of 150 to 300 % may cause the fuse/breaker to trip often,esp if the unit starts/stops often.
Oh and good choice on the cable size for the right reasons | 
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