Chunky-
Nitro is correct about saturation during a fault.
Of course you can also drive a CT into saturation by driving too much current through it under a steady state condition. ANSI/IEEE C57.13, defines saturation for protection cores to be where the error exceeds 10%. In practice, saturation is said to occur at the point that the secondary current versus primary current fails to be linear.
Normally, a CTs performance is evaluated by the excitation curve, which is a plot of secondary terminal voltage versus excitation current. Saturation is said to start at the "knee" region of the curve and it becomes that small increases in the secondary terminal voltage must be brought about by large increases in excitation current.
In "steady-state saturation", the waveform will be sinusoidal (in CTs).
Hope this helps...