Option 1 states that the Ninth Schedule of the Constitution of India was inserted by the Constitution (First Amendment) Act, 1951. This statement is correct. The Ninth Schedule was indeed added to the Indian Constitution through the First Amendment Act in 1951. This amendment was introduced by the government to protect certain laws from judicial scrutiny and to avoid the possibility of these laws being declared unconstitutional.

Option 2 states that the Acts and Regulations specified in the Ninth Schedule shall become void if they violate a fundamental right in Part III of the Constitution. This statement is incorrect. The whole purpose of inserting these Acts and Regulations in the Ninth Schedule was to protect them from being declared void on the ground of violating fundamental rights. The laws included in the Ninth Schedule enjoy immunity from judicial review on the grounds of violation of fundamental rights.

Option 3 states that the Supreme Court has the power of judicial review over Acts included in the Ninth Schedule based on the doctrine of basic structure. This statement is correct. The Supreme Court of India has the authority to review Acts included in the Ninth Schedule if they violate the basic structure of the Constitution. The basic structure doctrine is a judicial principle recognized by the Supreme Court which states that certain fundamental features of the Constitution are beyond the power of amendment by the Parliament.