The Canadian code has provisions for using fuses as overload protection but I don't remember every seeing it used. Whether I would do it would depend on whether control equipment would be bypassed. I wouldn't bypass a pressure switch or any safety controls. Then, a large motor might not start off fuses rated for overload protection.
I believe that, no matter how bad things are, they can always get worse. What if you omit proper overload protection and the motor dies. Now, you have two problems and the second one is entirely yours.
