Nested IFs in Data Validation does not return anything

[savanna]

Hi,
I want to display some data in 2nd drop-down list taking into consideration both value selected in 1st drop-down list and value in cell B2. It sounds simple, but I have stuck with a problem that I can not make to work multiple IF statements in Data validation. For example, if 1st condition is True(in the 1st drop down list there is selected 'Rating - Scenario'), then I check for which country it's meant, if it's for SE, then I need to display that list calling named range GetSESeqList, if not, then I check if it's another country and so on.

=IF(INDIRECT(ADDRESS(ROW();1))= "Rating - Scenario";IF(INDIRECT(ADDRESS(2;2)) = "SE";GetSESeqList;IF(INDIRECT(ADDRESS(2;2)) = "NO";GetNOSeqList;"NoList"));"F")

When I put this in Source field of Data validation, it does not return anything to me except error that source currently evaluates to error, but if I put it in the formula bar, it works as I wanted.

So I would really appreciate any help or ideas where have I made mistake.