Knights have never worn that in a season game or World Sevens game. The ARL badge suggests to me that it was 1995, as 1996 had the Optus 'Yes' dark green badge around the ARL one. Plus, as JamesGould says, we didn't have a sponsor in the pre-season of 1995, yet Stockland was on board as sponsor from 1995-1997 inclusive.
I'm thinking that Peerless produced one-off jerseys of a few different designs to present to the Knights board, to which they were to choose the Sevens jersey for that year. That being the case, that was one of the losing designs, losing out to that awesome one Matty Johns is wearing in the pic posted above. I love that jersey, and have always wished I'd have bought it at the time. I was, however, 15 at the time and couldn't afford the $80 for a jersey. One day, maybe, they'll use it for a World Club Challenge or some other special occasion?!