Yes and No.
Yes
it's legal if you can build it in such a way that it will pass emissions testing and suspension & brake testing. Both tests are done at considerable cost to the vehicle owner.
There's a guy in Sydney doing this with an AE95 at the moment. His power to weight ratio wouldn't be as good as yours due to the ae95 wagon being heavier than a seca, so you might find an engineer will restrict things like exhaust and turbo size in an effort to keep your power levels at an acceptable limit.
The person I'm speaking about doesn't have a build thread but he's done the right thing by getting in contact with an engineer first and the information I've provided is pretty much what the engineer told him.
No it probably won't pass engineering.
With a change in CC capacity, tired 20+ yr old seca exhaust and near disintegrated cat, plus 272 cams and god only knows what turbo... you will be operating outside of Australian Design Rules which advise something along the lines of: you're only allowed to replace the factory engine with one of the same make/ family (A-series) and capacity.
IE 4AGE 20V blacktop.
Furthermore, once you install an engine that is 20% or more powerful, above that of the most powerful factory engine available (20v BT) then the cars suspension and braking has to be tested in a variety of conditions, must come with engineers certificate and be able to pass emissions testing. Which means new cat converter and really good emissions tuning.
If you're still keen after reading all that then look up engineers in your area.
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