Palmer United Party (PUP) is calling for submissions from "applicants wishing to nominate as potential candidates in the seats of Charlestown and Newcastle" a spokeswoman said on Tuesday.

However, she said the party "[has] not made any final decisions".

PUP is not registered for the March 2015 NSW state election, which means it cannot have its party name on the ballot paper.

But the spokeswoman said despite this, the party can "potentially run candidates as party supported independents".

The Liberal party has announced it will not run candidates in the October 25 byelection as an "act of atonement" for the actions of Mr Owen and Mr Cornwell, who quit after confessing to taking $10,000 each from developer Jeff McCloy and using it in their campaigns.

Mr Cornwell also admitted to the Independent Commission Against Corruption that he accepted what he regarded as a $10,000 bribe from another developer, Hilton Grugeon, and used it to pay his tax bill.

Property developers have been prohibited from donating to NSW election campaigns since late 2009.

The Nationals have said they will not contest the byelections as the seats are "not regional enough".

Labor is running Newcastle councillor Tim Crakanthorp in Newcastle and Lake Macquarie mayor Jodie Harrison in Charlestown.

The Greens have yet to preselect candidates.

A spokesman for the NSW Electoral Commission confirmed PUP was not registered for the byelections and therefore could not have its name on ballot papers.

But he said it was unclear whether the party's branding could be used on election material such as how to vote cards.

If the party campaigned on behalf of the candidates it would need to register as a third-party campaigner and be subject to expenditure and disclosure laws.

PUP ran lower house candidates in Hunter seats during last year's federal election, including Yegon McLellan in Newcastle, Bronwyn Reid in Charlton and Phil Baldwin in Shortland. Charlton and Shortland both take in parts of Charlestown.