Auto Process Messages In Target Queue

I am little confused with this statement, can please some one clarify!

Create QUEUE ReceiverQueue WITH STATUS = ON,

ACTIVATION ( PROCEDURE_NAME = dbo.process, MAX_QUEUE_READERS = 1, EXECUTE AS 'dbo' )

Does this mean when a message reaches to ReceiverQueue, it will automatically processed by dbo.Process procedure

Create PROC dbo.process As

Begin

DECLARE @conversationHandle UNIQUEIDENTIFIER

DECLARE @message_body varchar(100)

DECLARE @rid int

Begin Transaction;

While (1=1)

Begin

RECEIVE TOP(1)

@rid = Cast(Convert(Nvarchar(max),message_body) as int)

From ReceiverQueue

If (@@RowCount = 0 Or @@ERROR <> 0 ) Break



Exec PriceChange.Extract_AS400Data @rid



End

Commit Transaction;

End

Or do I have to put WAITFOR statement in my stored proc (dbo.Process) to run it continously.

Please guide

Thanks