If you want the compiler to indicate an error, you need to set the strict to On option. You can do this on the Compilation tab of the Properties project. Or add Option Strict Onto the beginning of the file containing this code.
Here are a few pages that provide more information on what Option Strict means.
http://support.microsoft.com/en-us/kb/311329
https://msdn.microsoft.com/en-us/library/zcd4xwzs.aspx
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