The Senate last night voted to reject enabling legislation for the proposed Australian Business Investment Partnership, potentially reducing the pool of capital available to the commercial property sector.The government declined to accept amendments proposed by the Greens to curtail executive pay at ABIP. The Greens said they would have supported the bill with this amendment.ABIP is the commercial property lending vehicle that the government and major banks planned to use as a backstop to plug any severe reduction in lending by foreign banks to the sector. The Australian government planned to contribute $2 billion in capital to ABIP, while the four major banks were to contribute $500 million each and the fund would be able to borrow up to $26 billion. Conceived in the last two months of 2008, the underlying merit of the ABIP proposal remains contentious.