in reply to Re: Understanding code.
in thread Understanding code.

the script is executed with your current shell (environment)

After such an excellent answer I hesitate to be picky, but...
the shell used might be the current shell program, but it depends on the version. Bash and ksh93 will execute copies of themselves if no #! is supplied, but older versions, like ksh88, execute the Bourne shell. Not sure what csh does.