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--- variables.cold	2015-01-16 13:53:13.817363093 +0100
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+++ variables.c	2015-01-16 13:57:41.839425969 +0100
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@@ -366,7 +366,7 @@ initialize_shell_variables (env, privmod
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 	  /* Don't import function names that are invalid identifiers from the
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 	     environment, though we still allow them to be defined as shell
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 	     variables. */
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-	  if (legal_identifier (temp_name))
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+	  if (absolute_program (temp_name) == 0 && (posixly_correct == 0 || legal_identifier (temp_name)))
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 	    parse_and_execute (temp_string, temp_name,
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 			       SEVAL_NONINT|SEVAL_NOHIST|SEVAL_FUNCDEF|SEVAL_ONECMD);
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