Arc-resistant switchgear meets or exceeds the (appropriate ANSI/IEEE) standards for the (appropriate voltage) metal-enclosed switchgear. Certain UL and CSA standards also apply, depending on voltage level. As an example: low voltage gear must meet ANSI C37.20.7. Testing must be performed per the appropriate ANSI/IEEE standard for the appropriate voltage level. Typically, the testing investigates arcs initiated in all major compartments (breaker cell, bus, cable compartment, etc.).
The arc-resistant rating also has a TYPE associated with it (e.g. Type 1, 2, 2B, or 2C for low voltage gear). Each type requires different levels of safety ranging from front only (with gear closed) to all the way around, in every compartment, with doors open.
The arc resistant label on the gear also includes the short circuit and 0.5 second arc duration rating. There is usually a second label indicating the operating conditions required to maintain the rating (such as door closed, for example). Changing from a fast-acting fuse to a breaker will almost certainly void the first - and maybe the second - label ... which means the gear is no longer classed as arc-resistant.
Note that it MAY actually be arc-resistant ... but you cannot call it that without specifically testing the new configuration to the appropriate ANSI/IEEE (and UL, and CSA, etc.) standards as required.
Converting energy to motion for more than half a century