I would look at this in two ways. If it is a home there would be no requirement for a disconnect at the shed and I might prefer to see a sub panel I cannot think of any reason that a person would be required to run a sub panel and feed the circuits from their.
Even a commercial application if the shed is not a seperate tennant then it could still be fed either via a sub panel or separate circuits. Now if the shed was functionally seperate IE a different tennant then a panel with a local disconnect would be in order.
In BC each occupancy must have a local disconnect within the occupancy.
