Port Stephens MP Craig Baumann and Swansea MP Garry Edwards were both implicated during the investigation, which focused on illegal developer donations.

Mr Baumann admitted he accepted nearly $80,000 in donations from developers Jeff McCloy and Hilton Grugeon before the 2007 election.

He concealed the source of the money through false declarations, even though before late 2009 developers were not banned from donating.

Mr Edwards was also mentioned in relation to an alleged illegal donation from Mr McCloy.

The pair moved to the crossbench and their futures remain in limbo.

Both made private statements in Parliament last week.

Mr Baumann declared he "detested corruption" and was gutted to have been accused of any wrongdoing, while Mr Edwards blamed the ICAC for the intense media scrutiny of him and his colleagues.

The Liberal party is now considering a response.