An ambitious scheme to scuttle the decommissioned aircraft carrier HMS Ark Royal off Devon to create an artificial diving reef has won the backing of councillors.

Members of Torbay council's harbour committee voted unanimously to support the proposal to sink the Royal Navy's former flagship six miles off the English Riviera.

There are still many hurdles for the charity behind the scheme to overcome, not least buying the vessel, which was taken out of service as part of defence cuts.

But the harbour committee's unanimous backing of a proposal to lease part of the seabed from the Crown Estate to create a final resting place for the Ark is seen as a major step forward by the many champions of the plan in Devon.

Other schemes that have been floated for the ship have included turning it into a museum or a helipad or simply selling it for scrap.

In Torbay the idea of buying the vessel and turning it into an artificial reef was hatched over drinks at a sailing club and quickly turned into a solid plan. A charity called Wreck the World has been formed and it has put in a bid of £3.5m for the Ark.

One of the charity's founders, Michael Byfield, said: "It's been a steep learning curve and there are still lots of obstacles but we feel we are getting somewhere."

Wreck the World believes that divers would be attracted to Torbay from around the world if the scheme came to fruition, bringing in an estimated £10m a year to the local economy.

Byfield said he believed it would be best to scuttle the ship so that the top of it came to rest five to 10 metres below the surface, making it accessible to many more divers than if it was sunk deeper.

He would prefer to see the Ark settle upright on the seabed, allowing less confident divers to explore areas such as the bridge while more experienced ones could venture down to the deck and hull.

Naturally, measures will have to be taken to ensure it would not pose a risk to any other shipping. Detailed environmental surveys would be carried out to check that the wreck would enhance rather than harm marine life.

"It's good to think that if we can do this, Ark Royal would still be a guardian of our waters," said Byfield. "She is such an iconic vessel, it would be wrong to see her just cut up for scrap or suffer some other undignified fate."

If the charity fails to buy the Ark, it will attempt to find another suitable ship to scuttle. And if the scheme works in Torbay, Byfield said he would be keen to try to launch other similar projects around the globe.

A report about the plan considered by the harbour committee pointed out that the sinking of the frigate HMS Scylla in Whitsand Bay off Plymouth had "generated a boost to the local economy of Plymouth and the surrounding area".

The report said there was "strong evidence" that there would be "new and appreciable economic benefits" to Torbay if the Ark Royal scheme was realised.

Councillor Vic Ellery, chair of the harbour committee, said he was "very excited" by the plan, which will now go before the full council.