I think that code section that your question refers to is 230-40 exception #1.
You've given us breaker sizes but I'm curious about the calculated or actual loads served by both panels - 230-23 (a) & 230-31(a).
Another approach would be to come off the load side meter lugs. While permissable you won't have the added piece of mind that having a CB on the conductors would give you.
[This message has been edited by Helectric (edited 12-07-2005).]
