Interestingly enough, not even the path of /bin/sh is guarenteed. From the POSIX:
> Applications should note that the standard PATH to the shell cannot be assumed to be either /bin/sh or /usr/bin/sh, and should be determined by interrogation of the PATH returned by getconf PATH, ensuring that the returned pathname is an absolute pathname and not a shell built-in.
EDIT: I wondered what POSIX recommended to do for any use of the shebang and this is what I found:
> Furthermore, on systems that support executable scripts (the "#!" construct), it is recommended that applications using executable scripts install them using getconf PATH to determine the shell pathname and update the "#!" script appropriately as it is being installed (for example, with sed).
> Applications should note that the standard PATH to the shell cannot be assumed to be either /bin/sh or /usr/bin/sh, and should be determined by interrogation of the PATH returned by getconf PATH, ensuring that the returned pathname is an absolute pathname and not a shell built-in.
EDIT: I wondered what POSIX recommended to do for any use of the shebang and this is what I found:
> Furthermore, on systems that support executable scripts (the "#!" construct), it is recommended that applications using executable scripts install them using getconf PATH to determine the shell pathname and update the "#!" script appropriately as it is being installed (for example, with sed).
Wow.