Has /bin/sh become a bad interpreter on etch?

[hendrik@topoi.pooq.com]

This morning, when running a script I have run many many times before, I 
got the message:

bash: /home/parents/bin/acc05: /bin/sh: bad interpreter: Permission denied

The script is as follows:

#!/bin/sh
nohup gnucash /home/parents/accounts/05/work &
nohup gnucash /home/parents/accounts/05/home &
emacs /home/parents/accounts/05/0journale /home/parents/accounts/05/0Policy  &

Executing the command

nohup gnucash /home/parents/accounts/05/work &

directly from the shell worked.  Has /bin/sh suddenly become a bad 
interpreter?  An ls gives

hendrik@lovesong:~$ ls -l /bin/sh /bin/bash
-rwxr-xr-x 1 root root 684724 2006-03-22 19:23 /bin/bash
lrwxrwxrwx 1 root root      4 2006-04-26 10:28 /bin/sh -> bash
hendrik@lovesong:~$

So it looks as if the right files are there.

Running ETCH on a 32-bit AMD processor.  Keeping it up-to-date.

-- hendrik