Electrical inductive apparatus, such as a transformer, having a casing containing an electrical winding immersed in a liquid dielectric, and a protective fuse assembly connected between a bushing mounted on the casing and the electrical winding. The protective fuse assembly includes a receptacle which extends into the casing and into the liquid dielectric, but it is sealed therefrom, and a removable fused portion accessible from outside the casing. The receptacle is formed of a plurality of metallic and insulating tubular members, with the ends of certain of the insulating tubular members extending into the ends of a metallic tubular member, to provide sealed, electrically shielded joints. The fused portion includes a current limiting fuse having electrodes connectable via associated contact members to stationary contacts within the receptacle. Arc extinguishing members carried by both the receptacle and fused portions cooperate to make the assembly and disassembly of the fused portion and receptacle load-make and load-break.