Canada's Department of Fisheries and Oceans takes its mandate to protect fish habitat very seriously.
And DFO has told the Artificial Reef Society in no uncertain terms that Halkett Bay is not a suitable place to sink a ship. Because its fine-sediment seafloor is relatively uncommon in Howe Sound, the bay is a pretty important contributor to diverse habitat for marine life.
Salmon:
Halkett Bay is fed by two salmon spawning streams, according to the Sunshine Coast Regional District, which mapped streams around Gambier Island together with DFO.
Damaging the habitat of salmon that are threatened or endangered (by sinking a 376-foot ex-destroyer) is forbidden under Canada's Species at Risk Act.
Southern Resident Killer Whale Population:

B.C.'s Environment Ministry says there's a high likelihood that Halkett Bay is home to a population of southern resident killer whales.
There are estimated to be only 86 of these animals left on our coast, and damaging the places where they live is illegal.
These killer whales are critically endangered, due to their small numbers, reliance on endangered or threatened salmon runs for prey, high toxin load and sensitivity to boat disturbance.
Rare Estuary Habitat:

Estuaries are vitally important to many species, and account for only three percent of B.C.'s coastline. They are also essential habitat for salmon.
Halkett Bay's estuary is marked on the map in green.

North America's most respected reef researchers have identified a threatened species of rockfish in Halkett Bay: the Quillback.
Sinking an ex-destroyer in this marine park would change the habitat of this species, listed as threatened under Canada's Species at Risk Act.
"Halkett Wall" is a natural reef that has been attracting divers for many years.
It's much more dense in marine life than the Artificial Reef Society's Cape Breton wreck, according to the database at Reef.org.
But putting an artificial reef within 500 metres of a natural one would strip its marine life, as shiny objects such as vessels merely attract fish, rather than doing anything at all to boost their numbers.
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