Yep, this occurred towards the end of 1992. The car in question actually competed in the 1992 Australian Grand Prix touring car support races. There was a bit of controversy over it because Dick Johnson and Glenn Seton were sent to the back of the grid for running a 'non-homologated' aero kit, and yet the E36 was not homologated to run the E30 M3 engine.
The photo attached is from one of the early editions of Motor Racing Australia. The car looks like it was one of the Listerine Vic Lee Motorsport cars:
As to its whereabouts after the 1992 AGP, I have no ideas. Maybe contact Morris, Gardner or Longhurst?