I'm basically with Rat here and especially with his "if you are not sure, ask ATC" comment. But this is an unambiguous clearance. You have a heading, a level and clearance to join the ILS in the traditional way; localiser first. If you need a descent to allow an intercept of the localiser first you should ask for it. You were not cleared to descend to an intermediate level first.
The times when this type of clearance can become confusing is when you are on a heading to join an arrival procedure and at the same time cleared for the approach. This can happen in places like Marseille, Gothenberg, Alessund, Trondheim etc. Here you will be flying on own own below MSA (on an Arrival or Transition) and be responsible for your own let down (but according to the step down fixes on your charts). But you may descent because you have been cleared to do so.
PM