NSW MP Daryl Maguire has resigned as a parlimentary secretary and quit the Liberal Party but will remain in parliament after admitting to attempt to broker property deals for multiple clients across Sydney in 2016 during extraordinary proceedings at a corruption inquiry on Friday.

The Independent Commission Against Corruption heard secret recordings of telephone conversations in which Mr Maguire, the MP for Wagga Wagga and the parliamentary secretary for counter-terrorism, admitted trying to earn payments by setting property developers up with investors, particularly large Chinese firms.

“I believe it was the intent,” Mr Maguire told counsel assisting the commission, David Buchanan SC, when asked whether he and Michael Hawatt, a former Canterbury councillor and Liberal party friend, were attempting to share commissions on property deals.

Daryl Maguire leaves the ICAC after giving evidence on Friday. Credit:Janie Barrett

Mr Maguire, who faced immediate calls for his sacking from the Labor Opposition, was drawn into the inquiry into allegations of corruption at the former Canterbury Council through his friendship with Mr Hawatt.