For section 8 of the Act, a Research and Development Corporation to be known as the Cotton Sugar Research and Development Corporation is declared to be established in respect of the sugar industry, i.e. industry in Australia concerned with the production and processing of sugar cane, and the distribution, storage, marketing and sale of raw sugar. A levy, calculated on the gross value of production of sugar cane in accordance with regulation 6 is to be to be paid by the Australian sugar industry.