The NSW corruption watchdog says it is unlikely to release the findings of its investigation into former premier Gladys Berejiklian and her secret boyfriend before the March election.
The Independent Commission Against Corruption (ICAC) had probed the conduct of former Wagga Wagga MP Daryl Maguire, who was revealed as Ms Berejiklian's former boyfriend, during hearings in 2020.
Ms Berejiklian resigned in October 2021, after she too became a subject of the investigation.
In a statement released today, ICAC said "substantial parts of the report have been drafted", but it was unlikely to be finished until the "second quarter" of this year.
It was previously expected the report would be released before the March state election.
The ICAC probed allegations Mr Maguire was involved in a "cash-for-visas" scheme, among other things.
"The report concerns complex matters of law and fact, two public inquiries which proceeded over 30 days, over 2,800 pages of transcript, 516 exhibits comprising approximately 10,600 pages and 957 pages of submissions," the statement said.
"It is necessary that the issues relevant to the investigation are addressed carefully."
It said Operation Keppel Commissioner Ruth McColl was "continuing her work", but "it is not possible to specify a date by which it will be completed".
ICAC said it anticipated it was more likely the report will be "available for furnishing" in the second quarter of this year.
It said the last submission to the investigation was received in October 2022.
"The Commission and Ms McColl remain conscious of the obligation ... to furnish investigation reports as soon as possible after the Commission has concluded its involvement in a matter," the statement said.
The watchdog also assessed if there was a conflict of interest between Ms Berejiklian's public duties and private interests when she was in a relationship with the former Liberal MP.
It specifically examined grant funding "awarded or promised" to the Australian Clay Target Association and the Riverina Conservatorium of Music of where Mr Maguire was the local member.
During the hearings, ex-Liberal premier Ms Berejiklian told the inquiry she denies any wrongdoing in connection with Mr Maguire, who she was in a secret relationship with for five years.
Mr Maguire was charged by Australian Border Force in November with conspiring to commit an offence over an alleged "visa and migration fraud".
The last hearing for Operation Keppel was held in October 2021.
This is not the first time the report has been delayed.
In October last year the ICAC said it was engaging Ms McColl's services "for the purposes of her Operation Keppel report", "including participating in the review and editing processes."
In a statement at the time, the Commission said it was "conscious of it's obligations ... to furnish investigation reports as soon as possible" after it finished.
It also gave some parties an extension of time in which to make their submissions.
