Swansea MP Garry Edwards has become the latest in a growing line of NSW Liberals to stand aside after shock revelations of corruption at the Independent Commission Against Corruption.

Mr Edwards made the announcement on Thursday afternoon after property developer and Newcastle mayor Jeff McCloy told the corruption inquiry he gave tens of thousands of dollars in secret donations to Liberal candidates and felt "like a walking ATM sometimes".

On the crossbench: Garry Edwards, Liberal MP for Swansea. Credit:Dean Osland

Property developers have been banned from making political donations in NSW since 2009.

The independent mayor of Newcastle admitted he gave cash to Mr Edwards, who has not previously been named as part of the ICAC's inquiry, along with envelopes containing $10,000 in cash each to the now former Liberal MPs Tim Owen and Andrew Cornwell.